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Suppose That Average Incomes Increased from $30,000 to $34,000,and the Quantity

Question 102

Multiple Choice

Suppose that average incomes increased from $30,000 to $34,000,and the quantity demanded of a product increased from 45 to 55.What is the value of the income elasticity of demand?


A) +0.625.
B) +0.74.
C) -1.0.
D) +1.36.
E) +1.6.

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