Answer :
Final answer:
To calculate the income elasticity between given pairs of incomes, we need information about the quantity demanded, which is missing from the data provided.
Explanation:
To calculate income elasticity, we use the formula: Income Elasticity = % change in Quantity Demanded / % change in Income.
- Between A and B: The income changes from $20,000 to $36,000, which is a $16,000 increase (80%). The quantity demanded changes from an unknown value to an unknown value, so we cannot calculate the % change in quantity demanded. Thus, we cannot calculate the income elasticity between A and B.
- Between C and D: The income changes from $40,000 to $44,000, which is a $4,000 increase (10%). The quantity demanded changes from an unknown value to an unknown value, so we cannot calculate the % change in quantity demanded. Thus, we cannot calculate the income elasticity between C and D.
- Between E and F: The income changes from $45,000 to $47,000, which is a $2,000 increase (4.4%). The quantity demanded changes from an unknown value to an unknown value, so we cannot calculate the % change in quantity demanded. Thus, we cannot calculate the income elasticity between E and F.
Due to missing data on the quantity demanded, we cannot calculate the income elasticity between A and B, C and D, or E and F in this case.
Learn more about Income Elasticity of Demand here:
https://brainly.com/question/31293339
#SPJ11
