Suppose That Average Incomes Increased from $30,000 to $34,000,and the Quantity

question 102

Multiple Choice

Suppose that average incomes increased from $30,000 to $34,000,and the quantity demanded of a product increased from 45 to 55.What is the value of the income elasticity of demand?

• A)+0.625.
• B)+0.74.
• C)-1.0.
• D)+1.36.
• E)+1.6.

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