Question 1
Suppose a consumer's income increases from N30,000 to N36,000. As a result, the consumer increases her purchase of compact discs (CDS) from 25 CDS to 30 CDS. What is consumer's income elasticity of demand for CDS?
Objective
Question details
- Exam body
- ABU
- Subject
- Economics
- Year
- 2018/2019
- Question no.
- #1
- Type
- Objective
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