Multiple Choice
Use the following for questions 163-168.
Exhibit: Johnson's Income and Expenditures
Quantity Purchased per Month
-(Exhibit: Johnson's Income and Expenditures) Johnson's income elasticity of demand for magazines is:
A) negative.
B) 0.
C) greater than 0 but less than 1.
D) 1.
Correct Answer:
Verified
Correct Answer:
Verified
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