The income elasticity of rice in india is estimated to be, Business Economics

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The income elasticity of rice in india is estimated to be

The income elasticity of rice in India is estimated to be -0.247. What does the model of supply and demand predict if incomes in India rise?

a decrease in rice consumption and increase in price

a decrease in rice consumption and decrease in price

an increase in rice consumption and decrease in price

an increase in rice consumption and increase in price

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Business Economics: The income elasticity of rice in india is estimated to be

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