# After Sally's income increased from \$12,000 to \$16,000 per year, her purchases of CDs increased from 40 to 60 per year. Using the midpoint method, one decimal place, and the negative sign if necessary, her income elasticity for CDs is _____.

Answer: To calculate: Income elasticity for CD using mid-point method

Solution:
Increase in income = \$12000(I1) to \$16000 (I2) = \$4000
Increase in number of CD purchased = 40 (Q1) to 60 (Q2) = 20

Formula:
((Q2-Q1)/((Q1+Q2)/2))/((I2-I1)/((I1+I2)/2))

Where,
Q1 = initial quantity
Q2 = quantity after increase
I1 = initial income
I2 = income after increase

Putting values in the formula,

((60 - 40)/((40 + 60) /2))/((16000-12000)/((12000+16000)/2))

= 1.4

## Related Questions

Mrs. Walter’s husband died in 2016. She has not remarried and has maintained a home for herself and her dependent son, whom she can claim as a dependent. In the summer of 2018, the son was killed in an automobile accident. What is Mrs. Walter’s filing status for 2018

Answer: her son was killed in 2018 by an automobile

Explanation: this means probably the same person was the on who killed her husband.

Which term best represents the people competing to be elected in a campaign?

The answer would be candidates. Candidates remaining for office are subsidiary with political gatherings which both characterize a competitor's belief system and strategy position while mirroring a rundown of issues with which the electorate can distinguish in light of a political gathering stage as reflected in the applicant's race guarantees to the general population. Hopefuls as people speak to a gathering stage and with the assistance and support of their partnered party mechanical assembly, they vie for open office, do race crusades, and attempt to persuade voting nationals to cast their vote for them.

Together in a single supercar arift par 5. Which fossil occurs on the most tandmasses? What does this suggest
about when these particular continents broke up?

The Glossopteris fossils

Explanation:

The Glossopteris fossils, otherwise called the Glossopteridales, are the ones which are viewed as the most reoccurring fossils in the majority of the land masses. It proposes that the majority of the mainlands which exist on the earth may have migrated themselves from their past positions.

This proposes the atmosphere around these specific mainlands had been fundamentally the same as, if not totally the equivalent, and that the Glossopteris had been a typical plant back in the days, notwithstanding it having the option to adjust well.

What was expected of the colonists in the new Quartering Act passed as part of the Coercive (Intolerable) Acts in 1774? A) Colonists had to give up their right to elect their own council and instead be governed by a royal council.

B) Colonists would have to ask permission from the royal governor before conducting town meetings.

C) The colonial legislatures must to provide for the needs of British soldiers stationed in that colony.

D) Colonists would have to provide living quarters to British soldiers, even in private homes.