Table 5-2
-Refer to Table 5-2.Using the midpoint method,what is the income elasticity of good Y
A)-3.33
B)-2.33
C)-1.20
D)1.33

Name: Table 5-2 -Refer to Table 5-2.Using the midpoint method,what is the income elasticity of good Y A)-3.33 B)-2.33 C)-1.20 D)1.33
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Question

Table 5-2 
-Refer to Table 5-2.Using the midpoint method,what is the income elasticity of good Y
A)-3.33 
B)-2.33 
C)-1.20 
D)1.33

Quizplus · Accepted Answer

The midpoint method calculates elasticity using the average of the starting and ending values. Given the options, -3.33 is the correct income elasticity for good Y using this method.

Table 5-2 -Refer to Table 5-2.Using the Midpoint Method,what Is the Income