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When Income Increases from $20,000 to $30,000 the Number of Home

Question 30

Multiple Choice

When income increases from $20,000 to $30,000 the number of home delivered pizzas per year increases from 22 to 40.The income elasticity of demand for home delivered pizza equals


A) 1.45.
B) 0.69.
C) 0.58.
D) 0.40.
E) 2.86.

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