8 of 10, Step 1 of 1 Assume that as a result of an economic boom, the average annual income in Country A increased from $210,000 to $230,000. At the same time, the quantity of black caviar demanded per capita increased from 2.5 kilograms to 3.0 kilograms. Using the midpoint method, calculate the income elasticity of demand for black caviar. If necessary, round all intermediate calculations and your final answer to two decimal places. Answer Keypad Keyboard Shortcuts Submit