According to Engel’s Law of consumption, the following commodities are likely to have income elasticity of less than one (a) Garments (b) Motor car (c) Cosmetics (d) Wheat and Rice

According to Engel’s Law of consumption, the following commodities are likely to have
income elasticity of less than one
(a) Garments
(b) Motor car
(c) Cosmetics
(d) Wheat and Rice
by

1 Answer

Answer :

(d) Wheat and Rice
by

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