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If Your Income Was to Increase from $20,000 to $30,000

Question 62

Multiple Choice

If your income was to increase from $20,000 to $30,000 and the number of home -delivered pizzas you bought per year increased from 22 to 40, then your income elasticity of demand for home-delivered pizza equals


A) 1.45.
B) 0.58.
C) 2.86.
D) 0.69.
E) 0.40.

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