​If the Quantity Demanded of Good X Rises by 3

question 48

Multiple Choice

​If the quantity demanded of good x rises by 3% and,in response,your income goes up by 2%,the income elasticity of demand would be:

• A)​1.5
• B)6
• C)3
• D)​.20

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Definitions:

Synergistic Effect

An interaction between two or more substances or processes that results in an effect that is greater than the sum of their individual effects.

Social Therapy

A form of psychotherapy that focuses on improving interpersonal relationships and social functioning.

Milieu Therapy

A therapeutic approach that uses the immediate social environment to help individuals learn about themselves and improve their behavior.

Antipsychotic Drugs

Medications used to manage psychosis, including symptoms of schizophrenia and bipolar disorder, by altering the effects of neurotransmitters in the brain.