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A 10 Percent Increase in Buyers' Incomes Results in a 5

Question 17

Multiple Choice

A 10 percent increase in buyers' incomes results in a 5 percent drop in the quantity of hot dogs demanded.In this range,the income elasticity of demand for hot dogs is


A) 0.5
B) 2.0
C) 5.0
D) -2.0
E) -0.5

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