Multiple Choice
(Table: Market for Mexican Take-Out) Use Figure: Market for Mexican Take-Out. If income changes from $1,000 to $1,400 per month, the income elasticity of demand, computed using the midpoint method at a price of $18 per Mexican take-out meal, is:
A) 0.33.
B) 0.50.
C) 0.95.
D) 2.
Correct Answer:

Verified
Correct Answer:
Verified
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