X Text Question 1.10 Question Help The coconut oll demand function (Bushena and Perloff, 1991) is Q=1,200 -9.5p * 16.20 +0.2Y where is the quantity of coconut oil demanded in thousands of metric tons per year, p is the price of coconut oil in cents per pound, pp is the price of palm oil in cents pet pound, and is the income of consumers. Assume that p is initially 85 cents per pound, P, is 23 cents per pound, and Q is 1,400 thousand metric fons per year. Calculate the income elasticity of demand for coconut oil The income elasticity of demand is - Enter your response rounded to three decimal places.)