Studies Shows That Income Elasticity of Demand for Food Is

question 9

Multiple Choice

Studies shows that income elasticity of demand for food is

• A)less than 1,but greater than 0.
• B)more than 1,but less than 2.
• C)less than 0.
• D)more than 2.

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Definitions:

Fraction

A numerical value that represents a fraction of a whole but is not an integer.

Mixed Number

A number consisting of an integer and a proper fraction, representing a value between two whole numbers.

Fraction

A numerical quantity that is not a whole number, representing a part of a whole.