question archive If consumers always spend 15% of their income on food, then the income elasticity of demand for food is 1
If consumers always spend 15% of their income on food, then the income elasticity of demand for food is 1
Subject:EconomicsPrice:2.88 Bought3
If consumers always spend 15% of their income on food, then the income elasticity of demand for food is 1.00. Why?
