Chad's Income Went from $1000 Per Week to $1500 Per

Multiple Choice

Chad's income went from $1000 per week to $1500 per week. As a result he increased his consumption of steak from 1 pound a week to 3 pounds a week. Based on his consumption patterns, the income elasticity of steak for Chad is

A) 2.50.
B) -.50.
C) ) 50.
D) -1.50.