If a Product's Income Elasticity of Demand Is 1

question 128

Multiple Choice

If a product's income elasticity of demand is 1.7,we can conclude that

• A)an increase in income will lead to an increase in demand for the product.
• B)the product is certainly a necessity.
• C)the product is an inferior good.
• D)a decrease in income will lead to an increase in demand for the product.
• E)an increase in income will lead to an increase in quantity demanded of this product by 1.7%.

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The positive psychological and physiological changes that occur in an individual due to taking a break from work or daily routine, often associated with travel.

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A state or condition of experiencing lower levels of stress, often achieved through stress management techniques, fostering a healthier mental and physical state.

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