Jonathan's income falls by 15%. He decides to cut down his purchases of high-end restaurant meals by 20%. His income elasticity of demand for high-end restaurant meals is:
A)1.33.
B)-0.75.
C)0.75.
D)-1.33.

Question

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The Answer of Jonathan's income falls by 15%. He decides to cut down his purchases of high-end restaurant meals by 20%. His income elasticity of demand for high-end restaurant meals is:
A)1.33.
B)-0.75.
C)0.75.
D)-1.33.

Jonathan's Income Falls by 15