When the Consumer Spends Less Than 3% of His Income

question 334

Multiple Choice

When the consumer spends less than 3% of his income on a good, demand will be

• A) elastic.
• B) unit-elastic.
• C) inelastic.
• D) elastic, unit-elastic or inelastic depending upon supply.

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Definitions:

Orthopedic Unit

A specialized department within a hospital that focuses on the treatment of patients with skeletal system and associated structures' conditions.

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