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Answer and show work Bobo Motors is tracking sales of its Marathon model. In 2012, 45,000 units where demanded and average income was 109,000 Chitis.

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Bobo Motors is tracking sales of its Marathon model. In 2012, 45,000 units where demanded and average income was 109,000 Chitis. In 2009, 36,000 cars were demanded and average income was 93,000 Chitis. Assuming the only difference between 2009 and 2012 was a change in average income, what is income elasticity of demand? Round to two decimal places. If your answer is -1.275, enter -1.28

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