When John Earned $65,000 He Purchased 10 DVDs a Year

question 90

Multiple Choice

When John earned $65,000 he purchased 10 DVDs a year. His income has just increased to $68,000 and he plans to purchase 15 DVDs this year. John's income elasticity of demand equals

• A) 0
• B) 0.11
• C) 1.67
• D) 8.87

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Definitions:

Radiation

Energy that is emitted in the form of waves or particles, used in various fields including medicine and telecommunications.

Temperature

A measure of the internal energy contained in a substance, indicative of its thermal state.

Gametes

Reproductive cells (sperm in males and eggs in females) that unite during fertilization to form a new organism.

Ovaries

Female reproductive organs in which eggs are produced along with the secretion of hormones like estrogen and progesterone.