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【单选题】
Assume the price elasticity of demand for tobacco is 0.5, and the income elasticity of demand for tobacco is 0.4. Then:A.
an increase in the price of tobacco will decrease total revenue from sales of tobacco.
B.
a 20% increase in the price of tobacco will decrease the quantity demanded of tobacco by 8%.
C.
tobacco is an inferior good.
D.
a 50% increase in income will increase the quantity demanded of tobacco by 20%.
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