If a 50 percent increase in income increases the quantity of iPods demanded by 20 percent, the income elasticity of demand is equal to. (Enter your response rounded to two decimal places.)

Economics Today and Tomorrow, Student Edition
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Author:McGraw-Hill
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Chapter7: Demand And Supply
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If a 50 percent increase in income increases the quantity of iPods demanded by 20 percent, the income elasticity of demand is equal to. (Enter
your response rounded to two decimal places.)
Transcribed Image Text:If a 50 percent increase in income increases the quantity of iPods demanded by 20 percent, the income elasticity of demand is equal to. (Enter your response rounded to two decimal places.)
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