If the demand for farm products is income elastic, that would mean that farm products were a necessity.

Name: If the demand for farm products is income elastic, that would mean that farm products were a necessity.
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Income elasticity of demand measures how the quantity demanded of a good responds to changes in income. If farm products are income elastic, it means they are considered a luxury rather than a necessity, as demand increases more than proportionally with income.

If the Demand for Farm Products Is Income Elastic, That