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Suppose When the Consumer's Income Rises by 100%, the Consumer's xx

Question 24

Multiple Choice

Suppose when the consumer's income rises by 100%, the consumer's consumption of good xx only increases by 1%. We can infer that the consumer's income elasticity for good xx is:


A) 0.01- 0.01
B) 1- 1
C) 0.010.01
D) 1

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