Multiple Choice
Table 5.6 shows the change in the quantity demanded for Good A and Good B as a result of a change in income. Use the information in the table below to calculate the value of the income elasticity of demand for Good B.
Table 5.6
Quantity
Income
Good A
100
$1,000
120
$2,000
Good B
200
$20
140
$35
A) -11/17
B) 17/9
C) 10/3
D) -3/10
E) 1
Correct Answer:

Verified
Correct Answer:
Verified
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