According to the textbook, the income elasticity of demand is:
A) much smaller in the short run than in the long run.
B) much larger in the short run than in the long run.
C) about the same in the short run and in the long run.
D) is difficult to differentiate from the short run to the long run.

Question

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The Answer of According to the textbook, the income elasticity of demand is:
A) much smaller in the short run than in the long run.
B) much larger in the short run than in the long run.
C) about the same in the short run and in the long run.
D) is difficult to differentiate from the short run to the long run.

According to the Textbook, the Income Elasticity of Demand Is