When her income increases from $10,000 to $20,000, as shown in the accompanying table, Marguerite increases the quantity demanded from 3 to 7 rolls at a price of $3. From the midpoint method, income elasticity of demand for sushi is:
A) 0.67.
B) 1.20.
C) 1.33.
D) 0.83.
E) 0.50.
Correct Answer:
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