As a consumer's income rises, the proportion of income spent on food falls. This assertion is known as

achalmers

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As a consumer's income rises, the proportion of income spent on food falls. This assertion is known as

• Law of Demand.

• Engel's Law.

• Law of Diminishing Marginal Utility.

• None of these

Textbook

Introduction to Agricultural Economics

Edition: 7^th

Authors: Penson, Rosson, Woodward

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achalmers Author

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Smart ... Thanks!

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