Concept: Income Elasticity 2 Question Help Suppose income increases by 20 percent and, as a result, the quantity of a particular brand of automobile demanded (holding the price for this particular automobile constant) increases by 24 percent. The income elasticity of demand for this brand of car is . (Enter your response rounded to two decimal places and include a minus sign if appropriate.) Enter your answer in the answer box and then click Check Answer. ? 2 parts Clear All Check Answer remaining