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If consumers always spend 15 percent of their income on clothing, then the income elasticity of demand for clothing is ________. a. 0.15 b. 1.00
If consumers always spend 15 percent of their income on clothing, then the income elasticity of demand for clothing is ________. a. 0.15 b. 1.00 c. 1.15 d. 1.50 e. none of the answer choices
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