Multiple Choice
A drop in a town's average monthly incomes from $2000 to $1000 causes sales of canned meat to rise from 10 000 to 15 000 cans.The numerical value of the income elasticity of this item is:
A) -1.0
B) 1.0
C) -0.6
D) 0.6
E) 1.67
Correct Answer:
Verified
Correct Answer:
Verified
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