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  3. price quantity demanded income 1 000 24 20 16 12 8

Price Quantity Demanded Income 1 000 24 20 16 12 8 4 0 55 1...

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Algebra

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Price Quantity Demanded Income 1 000 24 20 16 12 8 4 0 55 1 36 0 73 135791 0 40 Quantity Demanded Income 2 000 470369 10 13 16 19 Refer to the Table Using the midpoint method at a price of 8 what is the income elasticity of demand when income rises from 2 000 to 3 500 Quantity Demanded Income 3 500 8 12 16 20 24 28

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