Multiple Choice
If Mr. Brown's income increases by 12 percent and as a result his quantity demanded of music downloads increases by 4 percent, Mr. Brown's income elasticity of demand for music downloads is
A) 3.0.
B) 0.33.
C) -0.33.
D) -3.0.
E) 48.0.
Correct Answer:
Verified
Correct Answer:
Verified
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