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Business, 13.06.2020 03:57 thatcommondumbgirl

As a group, U. S. consumers have no income response for their consumption of ice cream so that the income elasticity of demand for ice cream equals zero. Does this mean that the change in ice cream consumption that results from a price increase is entirely composed of the substitution effect?

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As a group, U. S. consumers have no income response for their consumption of ice cream so that the i...
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