Engel's law refers to:
A) a relationship between supply and income, which states that food
Supply will rise as income grows.
B) a relationship between demand and income, which states that the income elasticity of food is low.
C) a relationship between supply and income, which states that food supply will fall as income grows.
D) a relationship between demand and income, which states that the income elasticity of food is high.
Correct Answer:
Verified
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