If income increases by 10% and, in response, the quantity of housing demanded increases by 7%, then ...

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If income increases by 10% and, in response, the quantity of housing demanded increases by 7%, then ...

If income increases by 10% and, in response, the quantity of housing demanded increases by 7%, then the income elasticity of demand for housing is
A) -1
B) -0.7
C) 0.7
D) 1.43

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