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The fact that the demand for food has a price elasticity below 1 implies that: The poor eat relatively more inferior foods than the rich As income increases people consume relatively less food Poor

 The fact that the demand for food has a price elasticity below 1 implies that: The poor eat relatively more inferior foods than the rich As income increases people consume relatively less food Poor people eat less food even when prices are low Consumption of food does not change with price People do not change consumption of food by large amounts when the price of food falls

Question 2 1 pts The fact that the demand for food has a price elasticity below 1 implies that: The poor eat relatively more

Jun 10 2021 View more View Less

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