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(Figure: Good Y and Good X V) in Panel (A)

Question 35

Multiple Choice

(Figure: Good Y and Good X V) In panel (a) , the price of good X is $1.50 per unit and the price of good Y is $3 per unit. In panel (b) , the consumer's income increased from $400 to $480.
Panel (a) Panel (b) (Figure: Good Y and Good X V) In panel (a) , the price of good X is $1.50 per unit and the price of good Y is $3 per unit. In panel (b) , the consumer's income increased from $400 to $480. Panel (a) Panel (b) Using panel (a) , the income elasticity of demand for good X is _____. A) 12 B) 6 C) 1/12 D) 1/6
(Figure: Good Y and Good X V) In panel (a) , the price of good X is $1.50 per unit and the price of good Y is $3 per unit. In panel (b) , the consumer's income increased from $400 to $480. Panel (a) Panel (b) Using panel (a) , the income elasticity of demand for good X is _____. A) 12 B) 6 C) 1/12 D) 1/6
Using panel (a) , the income elasticity of demand for good X is _____.


A) 12
B) 6
C) 1/12
D) 1/6

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