A 10 Percent Increase in Income Increases the Quantity of Apple

question 57

Multiple Choice

A 10 percent increase in income increases the quantity of apple juice demanded from 18,800 to 21,200 gallons. The income elasticity of demand for apple juice is

• A) 0.5.
• B) 0.8.
• C) 1.0.
• D) 1.2.

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