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stars_and_moon stars_and_moon
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Posts: 3218
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7 years ago
When you get a 10% raise at work (your income goes up by 10%), you buy 20% more CDs. The income elasticity of demand is
A) 2.
B) -2.
C) 1/2.
D) -1/2.
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kingbykingby
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#1
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Posts: 3218
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7 years ago
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#2
7 years ago
I compared your answer with a buddy, and it matches

Thanks
wrote...
#3
7 years ago
I was slightly debating this one, thanks for the feedback
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