Multiple Choice
Suppose that over a 12- month period,Sonali's income (Y) rises from $27 000 to $35 000 per year and,as a result,her spending on travel (T) increases from $1500 to $2500 per year.Assume there is a linear relation between the two variables,Y and T.What is the marginal response in T to a change in Y?
A) 4
B) 0.25
C) 8
D) 0.125
E) 0
Correct Answer:

Verified
Correct Answer:
Verified
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