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:

Death

The termination of all biological functions that sustain a living organism, marking the end of life.

Soul

The spiritual or immaterial part of a human being or animal, often regarded as immortal.

Animism

Belief that all things possess a spirit.

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Principles or beliefs held by individuals who advocate for a strict adherence to specific theological doctrines, usually within a religious context.