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26 May 2018
Lise the figure below to answer the following questions. Price (dollars per unit per month) 0 50 100 150 200 250 Quantity (units per month Figure 6.1.2 7) Which one of the following must be true if demand is income inelastic? A) An increase in income will decrease the quantity demanded. B) A percentage rise in price increases the quantity demanded by a smaller percentage. C) The good is an inferior good. D) A small percentage increase in income will result in a large percentage increase in quantity demanded. E) A large percentage increase in income will result in a small percentage increase in quantity demanded.
Lise the figure below to answer the following questions. Price (dollars per unit per month) 0 50 100 150 200 250 Quantity (units per month Figure 6.1.2 7) Which one of the following must be true if demand is income inelastic? A) An increase in income will decrease the quantity demanded. B) A percentage rise in price increases the quantity demanded by a smaller percentage. C) The good is an inferior good. D) A small percentage increase in income will result in a large percentage increase in quantity demanded. E) A large percentage increase in income will result in a small percentage increase in quantity demanded.
Trinidad TremblayLv2
29 May 2018
