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Joan's Income Has Just Risen from $940 Per Week to $1,060

Question 504

Multiple Choice

Joan's income has just risen from $940 per week to $1,060 per week. As a result, she decides to purchase 12 percent more lettuce per week. The income elasticity of Joan's demand for lettuce is


A) 0.75.
B) 0.90.
C) 1.00.
D) 1.33.

Correct Answer:

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