Calculate the Income Elasticity If an 8 Percent Increase in Income

question 73

Multiple Choice

Calculate the income elasticity if an 8 percent increase in income leads to a 4 percent increase in quantity demanded for organic produce.

• A)-0.66
• B)0.5
• C)1.5
• D)2

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Definitions:

Cluster Sampling

A sampling technique where the population is divided into clusters, and a sample of these clusters is then selected for analysis.

Education Researcher

An individual specializing in studying, evaluating, and improving educational systems, methods, policies, and outcomes.

Stratified Sampling

A sampling method that divides the population into smaller groups, or strata, to ensure representation of significant subpopulations in the sample.

School Administrator

An official in an educational setting responsible for the management, coordination, and supervision of school operations and activities.