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If a 5 percent increase in income causes a 10 percent decrease in quantity demanded, what is the income elasticity of demand? A) 0.5 B)
If a 5 percent increase in income causes a 10 percent decrease in quantity demanded, what is the income elasticity of demand? A) 0.5 B) -0.5 C) 2.0 D) -2.0 E) 1.5
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