What does unitary income elasticity of demand (Ei=1) imply?
Unitary income elasticity of demand (Ei=1) implies that a given proportionate rise in the consumer's money income is accompanied by an equally proportionate rise in the quantity demanded of a commodity, and vice versa.
Statements: X @ Y $ Z & U, Z @ V
Conclusions: I. V # X II. V $ X
...Statements: C > G > E; E = F; G < H
Conclusions: I) F < G
II) E < C
III) C > H
Statement: Z > A ≥ B; Y > W ≤ A
Conclusions: I. Z > W II. Y > Z
...Statements: E * M, M # N, N $ K
Conclusions: a) E * N b) M $ K
Statements: C = A ≤ H < K ≥ L = Q; S = T ≥ K
Conclusion: I. C < T II. A = S
...Statements: Q = R; S ≥ T; P ≤ Q; R > V; R > S; T ≥ U
Conclusions:
(i) R > U
(ii) ...
Statements: R ≥ S; T = U < O; R ≥ O; V > T
Conclusions:
I. V > O
II. R > T
III. S > V
Statements: G ≤ H < I = J > K, L < B ≥ V > I ≥ D
Conclusion:
I. G = D
II. K ≤ D
III. B > H
Statements: C ≥ D= E ≤ F, G < F ≤ H < J
Conclusion:
I. H = D
II. H > D
III. G ≤ D
Statements: A > B ≥ C ≤ N = W, D ≤ Z < Y < B
Conclusion:
I. A > D
II. B > D
III. Z ≤ N