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Table 5-7 The Following Table Shows a Portion of the Demand Schedule

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Table 5-7
The following table shows a portion of the demand schedule for a particular good at various levels of income. Table 5-7 The following table shows a portion of the demand schedule for a particular good at various levels of income.   -Refer to Table 5-7. Using the midpoint method, at a price of $12, what is the income elasticity of demand when income rises from $5,000 to $10,000? A) 0.00 B) 0.41 C) 1.00 D) 2.45
-Refer to Table 5-7. Using the midpoint method, at a price of $12, what is the income elasticity of demand when income rises from $5,000 to $10,000?

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