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stevengu246 stevengu246
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5 years ago

Which of the following statement(s) is (are) true?



• If the own-price elasticity of demand is -1, the demand is said to be unitary elastic.

• A positively sloped Engel curve implies that the commodity is a normal good.

• An income elasticity of less than 1 indicates that the commodity is a necessity.

• All of these.
Textbook 
Introduction to Agricultural Economics

Introduction to Agricultural Economics


Edition: 7th
Authors:
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peaceout3000peaceout3000
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5 years ago
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stevengu246 Author
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5 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
nadiia
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Yesterday
This site is awesome
hannahspillett
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2 hours ago
Thanks for your help!!
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