Fred's income increases from $840 per week to $1,160 per week.As a result,he decides to purchase 24 percent more bubble gum each week.The income elasticity of Fred's demand for bubble gum is
A)0.32.
B)1.33.
C)24.
D)0.24.
E)0.75.

Question

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The Answer of Fred's income increases from $840 per week to $1,160 per week.As a result,he decides to purchase 24 percent more bubble gum each week.The income elasticity of Fred's demand for bubble gum is
A)0.32.
B)1.33.
C)24.
D)0.24.
E)0.75.

Fred's Income Increases from $840 Per Week to $1,160 Per