Question 14 Not yet answered Marked out of 1.00 Flag question Question text When would it be most advantageous to know the income elasticity of your product? Select one: a. when you think that the price of your own product is expected to rise. b. when you predict a recession is coming. c. when you see that production costs are expected to rise sharply for your product. Id. when you think your rival is going to cut their price