Consider the Following Data for a Hypothetical Economy TABLE 4- 4
-Refer to Table 4- 4

question 27

Multiple Choice

Consider the following data for a hypothetical economy. $\begin{array}{|l|c|c|c|}\hline\text { Year } & \begin{array}{c}\text { Average } \\\text { Household } \\\text { Income }(\$) \end{array} & \begin{array}{c}\text { Price of Transit } \\\text { Passes (\$) }\end{array} & \begin{array}{c}\text { Qty Demanded } \\\text { TransitPasses }\end{array} \\\hline 2009 & 78,000 & 60 & 99,000 \\\hline 2010 & 82,000 & 60 & 101,000 \\\hline\end{array}$ TABLE 4- 4
-Refer to Table 4- 4. The income elasticity of demand for transit passes in this economy is

• A) 2.5.
• B) 3.0 percent.
• C) 0.5.
• D) 2.5 percent.
• E) 0.4.