For a Good Such as Food,the Income Elasticity Is Likely

question 50

Multiple Choice

For a good such as food,the income elasticity is likely

• A) negative.
• B) equal to zero.
• C) positive and less than one.
• D) positive and greater than one.
• E) undefined because people always buy the same amount of food.

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Definitions:

Component Parts

Individual pieces or materials that are assembled or used together to create a finished product or to complete a larger assembly.