Use the Table Below to Answer the Following Question

question 22

Multiple Choice

Use the table below to answer the following question.
Table 4.2.1

-Consider the information in Table 4.2.1. Select the best statement.

• A)The income elasticity of demand is -2.5.
• B)The income elasticity of demand is 2.5.
• C)The income elasticity of demand is -3.33.
• D)The income elasticity of demand is 3.33.
• E)We cannot calculate the income elasticity of demand because both income and price are changing at the same time.

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Definitions:

Metrics

Measurements or indicators used to gauge the performance or progress of certain activities or processes.

Perfect Order Rate

A metric that measures how many orders have been filled, delivered, and billed without error.

Order System

A structured process for managing orders within a business, which includes taking, processing, and fulfilling orders made by customers.

Perfect Order

An order fulfillment metric that measures the percentage of orders delivered complete, on time, and without damage or error.