Alexs income elasticity of demand for hamburgers

Reference no: EM13689397

When her income falls from $50,000 to $20,000, Alex increases her monthly purchase of hamburger from 20 pounds to 35 pounds. Using the midpoint method, Alex's income elasticity of demand for hamburgers is:

|-1.57| or 1.57

|-0.63| or 0.63

|0.54| or 0.54

|-0.85| or 0.85

Cannot be calculated from this information

Reference no: EM13689397

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