If consumers always spend 15 percent of their income on food. then the income elasticity of demand for food is ?

A. 0.15

B. 1.00

C. 1.15

D. none of these

E. 1.5

Found an error? Read our corrections policy and report it in the comments below.

Be the first to comment if anything wrong with this mcq
Your comment successfully submitted!
It will automatically posted after review and approval by our staff member.