If the Percentage Change in the Quantity Consumed of Pizza

question 104

Multiple Choice

If the percentage change in the quantity consumed of pizza is 8 percent and the percentage change in income is 2 percent,what is the income elasticity of demand for pizza?

• A) -0.25
• B) 4
• C) 0.25
• D) -4
• E) - 1

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Definitions:

VP At Apple

A high-ranking executive position within Apple Inc., responsible for overseeing specific divisions or areas of the company.

Informal Group

A naturally occurring group formed by employees within an organization based on common interests, goals, or friendships.

Principal Reason

The main or most important cause behind an event, decision, or action.

Andrea Wong

A notable figure in the field of business, media, or technology, though specifics would depend on context.