-Figure 5-11 shows five different levels of income for a particular state (in billions of dollars)and the quantity of public higher education demanded there (for a given level of tuition).What is the income elasticity of demand if income rises from $45 billion to $55 billion?
A)1.00
B)0.06
C)-1.00
D)0
E)none of these

Question

-Figure 5-11 shows five different levels of income for a particular state (in billions of dollars)and the quantity of public higher education demanded there (for a given level of tuition).What is the income elasticity of demand if income rises from $45 billion to $55 billion?
A)1.00 
B)0.06 
C)-1.00 
D)0 
E)none of these

Quizplus · Accepted Answer

The Answer of 
-Figure 5-11 shows five different levels of income for a particular state (in billions of dollars)and the quantity of public higher education demanded there (for a given level of tuition).What is the income elasticity of demand if income rises from $45 billion to $55 billion?
A)1.00 
B)0.06 
C)-1.00 
D)0 
E)none of these

-Figure 5-11 Shows Five Different Levels of Income for a Particular