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The Table Below Shows the Quantities of Automobiles, Margarine, and Coffee

Question 59

Multiple Choice

The table below shows the quantities of automobiles, margarine, and coffee purchased by Ted at different levels of income. Table 5.2
The table below shows the quantities of automobiles, margarine, and coffee purchased by Ted at different levels of income. Table 5.2 Refer to Table 5.2.What is the income elasticity of demand for automobiles? A) 0.5 B) 0.35 C) 2 D) 0.2 E) Zero Refer to Table 5.2.What is the income elasticity of demand for automobiles?


A) 0.5
B) 0.35
C) 2
D) 0.2
E) Zero

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