Question

What does unitary income elasticity of demand (Ei=1) imply?

Q: Answer-What does unitary income elasticity of demand (Ei=1) imply?

Unitary income elasticity of demand Ei1 implies that a given proportionate rise in the consumers money income is accompanied by an equally proportionate rise in the quantity demanded of a commodity, and vice versa.

A An increase in income leads to a decrease in quantity demanded

B An increase in income leads to an equal increase in quantity demanded

C A decrease in income leads to an equal decrease in quantity demanded

D A decrease in income leads to a greater decrease in quantity demanded

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What does unitary income elasticity of demand (Ei=1) imply?

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