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Table 5-5 The Following Table Shows a Portion of the Demand Schedule

Question 244

Multiple Choice

Table 5-5
The following table shows a portion of the demand schedule for a particular good at various levels of income.
Table 5-5 The following table shows a portion of the demand schedule for a particular good at various levels of income. -Refer to Table 5-5.Using the midpoint method,at a price of $16,what is the income elasticity of demand when income rises from $5,000 to $10,000? A) 0.00 B) 0.50 C) 1.00 D) 1.50
-Refer to Table 5-5.Using the midpoint method,at a price of $16,what is the income elasticity of demand when income rises from $5,000 to $10,000?


A) 0.00
B) 0.50
C) 1.00
D) 1.50

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