Is the following statement true or false? "If consumers spend their entire incomes, it is impossible for the income elasticity of demand for every good to be bigger than 1." Write a brief but convincing explanation of your answer.

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The Answer of Is the following statement true or false? "If consumers spend their entire incomes, it is impossible for the income elasticity of demand for every good to be bigger than 1." Write a brief but convincing explanation of your answer.

Is the Following Statement True or False? "If Consumers Spend