Multiple Choice
An income elasticity (Ey) of 2.0 indicates that for a ____ increase in income,____ will increase by ____.
A) one percent; quantity supplied; two units
B) one unit; quantity supplied; two units
C) one percent; quantity demanded; two percent
D) one unit; quantity demanded; two units
E) ten percent; quantity supplied; two percent
Correct Answer:
Verified
Correct Answer:
Verified
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