The demand for a good is expected to decrease from 120 000 to 105 000 units when average consumer incomes increase from £40 000 to £46 000.
What is the income elasticity of demand for this good?
−1.20-1.20−1.20
−0.83-0.83−0.83
−0.63-0.63−0.63
0.830.830.83
