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    Microeconomics Principles for a Changing World
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    Exam 5: Elasticity
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    If a 10% Increase in Income Causes the Quantity Demanded
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If a 10% Increase in Income Causes the Quantity Demanded

Question 3

Question 3

Multiple Choice

If a 10% increase in income causes the quantity demanded of macaroni and cheese to fall by 5%, then macaroni and cheese is a(n) _____.


A) normal
B) substitute
C) income-superior
D) inferior

Correct Answer:

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