The table below shows the quantities of automobiles, margarine, and coffee purchased by Ted at different levels of income. Table 5.2
Refer to Table 5.2.What is the income elasticity of demand for automobiles?
A)0.5
B)0.35
C)2
D)0.2
E)Zero

Question

The table below shows the quantities of automobiles, margarine, and coffee purchased by Ted at different levels of income. Table 5.2
 Refer to Table 5.2.What is the income elasticity of demand for automobiles?
A)0.5 
B)0.35 
C)2 
D)0.2 
E)Zero

Quizplus · Accepted Answer

The Answer of The table below shows the quantities of automobiles, margarine, and coffee purchased by Ted at different levels of income. Table 5.2
 Refer to Table 5.2.What is the income elasticity of demand for automobiles?
A)0.5 
B)0.35 
C)2 
D)0.2 
E)Zero

The Table Below Shows the Quantities of Automobiles, Margarine, and Coffee