If quantity of a good demanded increases from 200 to 250 then the aver – McqOptions

MCQOPTIONS

1.	If quantity of a good demanded increases from 200 to 250 then the average income of the population increases from Rs 20,000 to Rs 30,000, find ArcÂ Income elasticity of demand?
A.	1.45
B.	0.55
C.	2
D.	1.25
Answer» C. 2

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