If the Income Elasticity of Demand for a Service Is

question 89

Multiple Choice

If the income elasticity of demand for a service is 0.6, then a 5 percent increase in income will generate a __________ in quantity demanded

• A)3 percent decrease
• B)3 percent increase
• C)8.33 percent decrease
• D)8.33 percent increase
• E)0.12 percent decrease

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Definitions:

Inguinal

Relating to the groin, the area where the thigh meets the abdomen.

Proximal

Situated near the center of the body or the point of attachment.

Proxim

Refers to being closer to the point of reference or origin, typically used in anatomical and spatial contexts.

Cranial Cavity

The space within the skull that houses the brain, part of the dorsal body cavity.