Multiple Choice
Fred's income increases from $840 per week to $1,160 per week.As a result,he decides to purchase 24 percent more bubble gum each week.The income elasticity of Fred's demand for bubble gum is
A) 0.32.
B) 1.33.
C) 24.
D) 0.24.
E) 0.75.
Correct Answer:
Verified
Correct Answer:
Verified
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