Average Annual Consumer Incomes Rise from $50 000 to $60

Multiple Choice

Average annual consumer incomes rise from $50 000 to $60 000,pushing up the quantity demanded for cars in a given region from 750 000 to 1.25 million.The numerical value of the income elasticity of cars is therefore:

A) 0.33
B) 3.33
C) 2.75
D) 0.36
E) -0.36