As incomes rise, the income elasticity of demand for food
a. falls below one
b. becomes equal to one
c. rises above one
d. remains stable
e. cannot be calculated
A
Economics
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A general equilibrium analysis of a price change in the corn chip market would include an investigation of the impacts in
A) the television market. B) the coffee market. C) the salsa market. D) All of the above.
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