Essay
The income elasticity of demand for eggs has been estimated to be 0.57.If income grows by 5% in a period, how will that affect demand for eggs in that period, all other things unchanged?
A.Demand will increase by more than 5.7%.
B.Demand will increase by about 2.9%.
C.Demand will decrease by more than 5.7%.
D.Demand will decrease.
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