Suppose that income increases-income elasticity of movies

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Reference no: EM13833310

Suppose that Seth's income increases from $400 to $500 per week, causing Seth to increase his purchases of movies from 3 to 4. The income elasticity of movies is:

A. 1.00.

B. 1.33.

C. 0.75.

D. 0.25.

Reference no: EM13833310

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