In 1965,as Per Capita Income Among a Particular Segment of the Population

Multiple Choice

In 1965,as per capita income among a particular segment of the population fell from $10,200 to $9,800,everything else remaining constant,annual per capita consumption of beer fell from 55 to 45 gallons; this implied an income elasticity of demand for beer of:

A) 4.44.
B) 4.55.
C) 5.0.
D) 4.65.
E) 0.5.