If the income elasticity of demand for boots is 0 2 a 10-08774
If the income elasticity of demand for boots is 0.2, a 10% increase in consumer income will lead to a:
This multiple choice question (MCQ) is related to the book/course
vu eco401 Economics.
It can also be found in
vu eco401 Final Term - Quiz No.2.
If the income elasticity of demand for boots is 0.2, a 10% increase in consumer income will lead to a:
20% increase in the quantity of boots demanded.
20% decrease in the quantity of boots demanded.
2% increase in the quantity of boots demanded.
0.2% increase in the quantity of boots demanded.
