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An Increase in Income from $30,000 to $40,000 Leads to a Decrease

Question 238

Multiple Choice

An increase in income from $30,000 to $40,000 leads to a decrease in the quantity demanded from 50 to 40.The income elasticity of demand is:

A) 7/9
B) -7/9
C) 1
D) 9/7
E) -9/7

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