If the income elasticity of demand for bread is 0 4 a 10-08824
If the income elasticity of demand for bread is 0.4, a 10% increase in consumer income will lead to a __________ in the quantity of bread demanded.
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.7.
If the income elasticity of demand for bread is 0.4, a 10% increase in consumer income will lead to a __________ in the quantity of bread demanded.
40% increase
40% decrease
4% increase
0.4% increase
