If the percentage change in the income of the consumers of an industrial product is less than the resulting percentage change in the quantity demanded of th...

Question 1 Report

If the percentage change in the income of the consumers of an industrial product is less than the resulting percentage change in the quantity demanded of the product, then the income elasticity of demand for the product is?

less than one

equal to one

greater than one

equal to zero

Theory Of Consumer Behaviour

The Theory Of Demand

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If the percentage change in the income of the consumers of an industrial product is less than the resulting percentage change in the quantity demanded of th...

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