Question
Suppose that income goes up. Then: (i) This is a move along the demand for energy bars (ii) The demand for energy bars will go
Suppose that income goes up. Then:
(i) This is a move along the demand for energy bars
(ii) The demand for energy bars will go up
(iii) The demand for energy bars may go up or may go down
Suppose that the Demand is a downward-sloping straight line. Does it mean that the (own) price elasticity of demand is constant? Or does the elasticity change as we move along the line? PLEASE, EXPLAIN
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Macroeconomics Principles Applications and Tools
Authors: Arthur O'Sullivan, Steven Sheffrin, Stephen Perez
9th edition
978-0134089027, 134089022, 978-0134420684
