Multiple Choice
If Cassandra bought 12 blouses last year when her income was $46,000 and she buys 14 blouses this year when her income is $52,000, then her income elasticity of demand for blouses is approximately
A) -1.26.
B) +1.26.
C) -0.80.
D) +0.80.
E) -2.52.
Correct Answer:
Verified
Correct Answer:
Verified
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