Multiple Choice
Muriel's income elasticity of demand for football tickets is 1.5. All else equal, this means that if her income increases by 20 percent, she will buy
A) 150 percent more football tickets.
B) 50 percent more football tickets.
C) 30 percent more football tickets.
D) 20 percent more football tickets.
Correct Answer:
Verified
Correct Answer:
Verified
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