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    If Your Income Goes Up by 2% And,in Response,the Quantity
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If Your Income Goes Up by 2% And,in Response,the Quantity

Question 15

Question 15

Multiple Choice

If your income goes up by 2% and,in response,the quantity demanded of good x rises by 3%,the income elasticity of demand would be:


A) 1.5
B) 6
C) 3
D) 0.20

Correct Answer:

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