Multiple Choice
When her income falls from $50,000 to $20,000,Arianna increases her monthly purchase of hamburger from 20 pounds to 35 pounds.From the midpoint method,Arianna's income elasticity of demand for hamburgers is
A) -1.57.
B) -0.63.
C) 0.54.
D) -0.85.
E) 1.57.
Correct Answer:
Verified
Correct Answer:
Verified
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