If the Income Elasticity of Demand for Lobster Is +1

question 9

True/False

If the income elasticity of demand for lobster is +1.5, a 5 percent increase in income will cause a 7.5 percent increase in the demand for lobster.

---

Definitions:

Electric Shock

A sudden discharge of electricity through a part of the body, causing injury or psychological trauma.

Compulsive Hand Washing

An obsessive-compulsive behavior characterized by frequent and excessive washing of hands, often driven by irrational fears of contamination.

Reinforcement

In psychology, a process by which a behavior is strengthened or increased in frequency by its consequences.

Anxiety

A psychiatric condition marked by intense anxiety, worry, or dread, severe enough to disrupt daily life functions.