MCQOPTIONS
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| 1. |
If consumers always spend 15 percent of their income on food. then the income elasticity of demand for food is ? |
| A. | 1.50 |
| B. | 1.15 |
| C. | none of these |
| D. | 0.15 |
| E. | 1.00 |
| Answer» F. | |