If the Income Elasticity of Demand for Noodles Is -2

question 38

Multiple Choice

If the income elasticity of demand for noodles is -2 and the percentage change in the quantity consumed is 5 percent,what is the percentage change in income?

• A) 2.5 percent
• B) 10 percent
• C) -2.5 percent
• D) -10 percent
• E) -0.4 percent

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Definitions:

Graphic Visual Aids

Visual elements such as charts, diagrams, or illustrations used to convey information or assist in comprehension.

Listener Memory

Listener memory pertains to the capacity of an audience to retain and recall information that has been communicated to them auditorily.

Objects

Physical items that are tangible and can be seen or touched.

Visual Aid

Use of imagery or physical objects to support or clarify a presentation or message.