Question: Below are some data on price, income and demand for five different time periods. Year Income Price of X Price of 1 50 200 2

Below are some data on price, income and demand for five different time periods.

Year

Income Price of X

Price of

1

50

200

2

40000150

40

40

160

3

40000150

30

70

140

4

50000150

40

70

160

5

50000160

50

90

200

Refer to the information above to answer this question. What is the income elasticity for product between years 3 and 4 ?

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