If a Consumer Doubles Her Quantity of Ice Cream Consumed

question 32

Multiple Choice

If a consumer doubles her quantity of ice cream consumed when her income rises by 25%,then her income elasticity of demand for ice cream is

• A) 8.0.
• B) 4.0.
• C) .25.
• D) .08.

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Definitions:

Vacuum

A space entirely devoid of matter, or having a pressure much lower than atmospheric pressure.

Law of Conservation

A principle stating that in a closed system, mass (in classical physics) or mass and energy (in quantum physics), cannot be created or destroyed, but only transformed or transferred.

Mass

Mass is a property of physical objects that quantifies the amount of matter within them, offering resistance to acceleration when a force is applied.

Mercury (II) Oxide

A red or orange solid compound that is formed by the oxidation of mercury, used in the production of mercury as it decomposes to mercury and oxygen when heated.