What Is Income Elasticity If an 8 Per Cent Increase

question 82

Multiple Choice

What is income elasticity if an 8 per cent increase in income leads to a 4 per cent increase in quantity demanded for organic produce?

• A)-0.66
• B)0)5
• C)1)5
• D)2

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Definitions:

Start Pushbutton

A button that, when pressed, initiates the starting sequence of a machine or device.

Control Circuit

An electrical circuit designed to control the operation of a device by regulating the flow of electricity to it.

Analog Inputs

Inputs that can receive and process analog signals, converting physical phenomena like temperature or pressure into a readable format by an electronic device.

Operation Default Parameters

Pre-set values or conditions defined for the normal operation of a system or device.