If average consumer incomes increase proportionately faster than the demand for a product,then the income elasticity of demand for the product is:
A) zero.
B) greater than zero but less than 1.
C) greater than 1.
D) equal to 1.

Question

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The Answer of If average consumer incomes increase proportionately faster than the demand for a product,then the income elasticity of demand for the product is:
A) zero.
B) greater than zero but less than 1.
C) greater than 1.
D) equal to 1.

If Average Consumer Incomes Increase Proportionately Faster Than the Demand