Solved

What Is Income Elasticity If an 8 Per Cent Increase

Question 82

Multiple Choice

What is income elasticity if an 8 per cent increase in income leads to a 4 per cent increase in quantity demanded for organic produce?

A) -0.66
B) 0) 5
C) 1) 5
D) 2

Related Questions

Q56: List the five key determinants of price

Q65: The price elasticity of supply is equal

Q77: There is a limited number of original

Q79: If a firm is in an antitrust

Q80: What factors would make you more sensitive

Q84: If a firm's goal is to maximise

Q122: Most food products have low income and

Q135: Suppose that when the price per ream

Q197: Suppose at a price of $50, Yoshi's

Q231: Over longer periods of time, increases in