The citizens of Rohan spend a higher fraction of their income on food than do the citizens
Question:
The citizens of Rohan spend a higher fraction of their income on food than do the citizens of Gondor. The reason could be that
a. Rohan has lower food prices, and the price elasticity of demand is zero.
b. Rohan has lower food prices, and the price elasticity of demand is 0.5.
c. Rohan has lower income, and the income elasticity of demand is 0.5.
d. Rohan has lower income, and the income elasticity of demand is 1.5.
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The correct answer is c Rohan has lower income and the income elasticity of demand is 05 Explanation ...View the full answer
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