Rent control may lead to lower rents for those who find housing, but the quality of the housing may also be lower

If your income goes up by 2% and, in response, the quantity demanded of good x rises by 3%, the income elasticity of demand would be:

a. 1.5 b. 6 c. 3 d. .20

Economist Jones defines an increase in supply as a decrease in the prices needed to ensure various amounts of a good being offered for sale. Economist Brown defines an increase in supply as an increase in the amounts that producers will offer at various

possible prices. Economist Cole defines an increase in supply as an increase in the amount firms will offer in the market which is caused by an increase in the price of the product. Which, if any, of these is defining an increase in supply correctly? Please provide the best answer for the statement.