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Suppose income increases by 10% and demand for commodity increases by 5% then the income elasticity of demand is:

A. Negative

B. Positive

C. Zero

D. Infinity

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  15. The ordinal approach was presented by:
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  17. Which of the following formula determine the income elasticity of demand?:
  18. Which of the following models are associated with non-collusive oligopoly?
  19. Which of the following statement is wrong?
  20. Who is the author of Problems of Capital Formation in Underdeveloped Countries?
  21. Which of the following conditions is met in the long-run equilibrium in monopolistic competition, where…
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  23. Who first formulated the Marginal Productivity Theory of Distribution?
  24. According to Chamberline, in monopolistic competition, differentiation is determined by:
  25. Who is the author of the famous work Asian Drama: An Enquiry intro the Causes of Poverty of Nations?
  26. By reducing the prices of its products below those of its competitors, a perfectly competitive seller:
  27. We can measure consumers surplus with the help of
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  30. Under competitive conditions, the industry will be in equilibrium: