ses from $100,000 to $20,000 and his purchases of generic peanut butter increases from 0 to 10, what is his income elasticity of demand for this item?…

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If Eric’s annual income decreases from $100,000 to $20,000 and his purchases of generic peanut butter increases from 0 to 10, what is his income elasticity of demand for this item?

Question 28 options:

0.67

1.5

-0.67

-1.5