Suppose the Quantity of X Is Measured on the Horizontal

question 47

Multiple Choice

Suppose the quantity of x is measured on the horizontal axis.If the income consumption curve is vertical,then the income elasticity of demand for x is

• A) 0.
• B) 1.
• C) -1.
• D) There is not enough information to determine the income elasticity of demand for x.

---

Definitions:

Per-unit Costs

The average cost incurred in the production of one unit of a good or service, including both fixed and variable costs.

Number Of Producers

The total count of entities or individuals that manufacture or produce goods and services within an economy.

Park Funding

Financial resources allocated for the maintenance, operation, or development of public parks and recreational areas.

Taxpayers

Individuals or entities that are subject to pay taxes to a governing body in accordance with the law, based on income or transactions.