Food and clothing are necessary goods. Hence, demand for these goods will show a greater degree of responsiveness to income (higher income elasticity of demand) than for other goods such as attendance at sporting events or music concerts Group of answer choices a. True b. False

Q: QUESTION 26 44 40 36 a firm in a perfectly competitive market MC ATC

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Q: O Discuss the Neoclassical theory of distribution and show its strengths and weakness.

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