Question #221579

  • Which of the following statements is correct? 
  • A.The income elasticity of demand for shelter is high.
  •  B. The income elasticity of demand for luxuries is high.
  •  C. The income elasticity of demand for clothing is high.
  •  D. The income elasticity of demand for food is high.

Expert's answer

The correct statement is

D. The income elasticity of demand for food is high



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