(Figure: Good Y and Good X V) in Panel (A)

question 102

Multiple Choice

(Figure: Good Y and Good X V) In panel (a) , the price of good X is $1.50 per unit and the price of good Y is $3 per unit. In panel (b) , the consumer's income increased from $400 to $480.
Panel (a) Panel (b)

Using panel (a) , the income elasticity of demand for good X is _____.

• A) 12
• B) 6
• C) 1/12
• D) 1/6

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Definitions:

Maturation

The process of becoming mature, involving growth and development that occurs in an organism over time.

Development

The process of growth and change that organisms undergo from their inception to their mature form, including physical, cognitive, and social changes.

Proximal

Describes a position in a limb that is nearer to the point of attachment or to the body trunk.

Lateral

Describing a position or direction toward the side of the body or a body structure, away from the midline.