Scenario 19.1 The demand for noodles is given by the following equation: Q = 20 - 4P + 0.2I - 2P_x.Assume that P = $8, I = 200, and P_x= $10.
Given the above equation, the income elasticity of demand for noodles is _____.

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The Answer of Scenario 19.1 The demand for noodles is given by the following equation: Q = 20 - 4P + 0.2I - 2P_x.Assume that P = $8, I = 200, and P_x= $10. Given the above equation, the income elasticity of demand for noodles is _____. A)5 B)0.5 C)2 D)2.5 E)1.6