ECONOMICS
ELASTICITY OF DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If, following an increase in income from £40, 000 to £50, 000, a consumer buys 180 loaves of bread per year instead of 200, then the YED is:-10+ 25=(-) 0.4As a result it is-
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INFERIOR GOOD
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NORMAL GOOD
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Either A or B
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None of the above
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Explanation:
There is 1 question to complete.