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Suppose that the quantity demanded of gultas rises by 15% when income rises by 10%

Economics

Suppose that the quantity demanded of gultas rises by 15% when income rises by 10%. What is the income elasticity of demand for guitars? Round your answer to the nearest hundredth. Your answer may be a positive or negative number
The table shows the price and quantity demanded for floor mats. Using the Midpoint Method, what is the price elasticity of demand between points 8 and C? Note: Remember to take the absolute value of the result Points Price Quantity 1 7 4 3 12 1

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