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Question 84

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Use the following to answer questions: Use the following to answer questions: -(Table: Market for Pizza) If income changes from $1,000 to $1,400 per month, by the midpoint method, the income elasticity of demand at a price of $10 per pizza is: A) 1.2 B) -1.2 C) 0.825 D) 0.40
-(Table: Market for Pizza) If income changes from $1,000 to $1,400 per month, by the midpoint method, the income elasticity of demand at a price of $10 per pizza is:


A) 1.2
B) -1.2
C) 0.825
D) 0.40

Correct Answer:

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