In the graph shown below, the demand for good X shifts due to a change in income. Holding the price of good X constant at $200, answer the following questions:

-The graph shows how the demand
for X shifts when income decreases from $45,000 to $42,000. Using the information in the graph, the income elasticity of demand for X is calculated to be _________.

Question

In the graph shown below, the demand for good X shifts due to a change in income. Holding the price of good X constant at $200, answer the following questions:
 
-The graph shows how the demand
for X shifts when income decreases from $45,000 to $42,000. Using the information in the graph, the income elasticity of demand for X is calculated to be _________.

Quizplus · Accepted Answer

The Answer of In the graph shown below, the demand for good X shifts due to a change in income. Holding the price of good X constant at $200, answer the following questions:
 
-The graph shows how the demand
for X shifts when income decreases from $45,000 to $42,000. Using the information in the graph, the income elasticity of demand for X is calculated to be _________.

In the Graph Shown Below, the Demand for Good X