#98. when income changes in $1000 to $1400 per month, the income elasticity of d

Question

#98. when income changes in $1000 to $1400 per month, the income elasticity of demand for pizza, by the midpoint method, at a price of $14 per pizza is:

#99. if income changes from $1,000 to $1,400 per month, by the midpoint method, the income elasticity of demand at a price of $10 per pizza is:

Table: Market for Pizza Quantity of Pizza Demanded (given income of Quantity of Pizza Demanded (given income of Price per pizza) $1.000 per month) 51400 per month 520 18 16 10 12 10 12 13 14 10 ot the table Market for Pizza. When income dhnges fron . o& (Tabile: Market for Pizza) Look at the table Market for Pizza. When inotme A method, ata 40rmnt the income elassicity of demand for pizza,by the midpoin nehe t ia d $1,400 per 14 perpizza i A) -1 B) 1 0 1.25 D) 1.5 95. (Table: Market for Piza) If income changes from $1,000 to $1,400 per moth ty the riei nethod, the income elasticity of demand at a price of $10 per pizza is A 1.2 B) -12 C) 0.825 D) 040

Explanation / Answer

#99) A)1.2

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