If the income elasticity co-efficient for demand of a Commodity-X is +0.5; with an increase in the consumer's income, share of income spent on this commodity will —
CS CSEET · Business Economics & Fundamentals of Accounting and Auditing · PYQS · December 2013
If the income elasticity co-efficient for demand of a Commodity-X is +0.5; with an increase in the consumer's income, share of income spent on this commodity will —
Answer & Explanation:
Correct Answer: Option (B)
Correct answer: (B) Fall.
Topics: Business Economics
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