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If the income elasticity of demand for a good is 2.8, then a 10% increase in income results in Select one: A. a 2.8% increase
If the income elasticity of demand for a good is 2.8, then a 10% increase in income results in
Select one:
A. a 2.8% increase in the quantity demanded.
B. a 280% increase in the quantity demanded.
C. a 28% increase in the quantity demanded.
D. a 28% decrease in quantity demanded.
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