Q368
Calculate the income elasticity for a household when the income of this household rises by 5% and the demand for buttons does not change at all.
A.
Infinity
B.
1
C.
Zero
AnswerD.
5
Answer: Option C
Solution
Answer: Option C
Solution:
The income elasticity for a household is Zero when the income of this household rises by 5% and the demand for buttons does not change at all.