In surveying their alumni,State U's economics department discovered that ramen noodle consumption declined as soon as students graduated and found jobs.One conclusion the survey team might draw from this result is that:

Question

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Income elasticity is the percentage change in quantity consumed when there is a one percent change in income.For inferior goods,an increase in income leads to a decrease in consumption.

In Surveying Their Alumni,State U's Economics Department Discovered That Ramen