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Last year, Alex's income was $10 000 and he bought 20 donuts. This year his income is $15 000 and he buys 36 donuts.Calculate, and

Last year, Alex's income was $10 000 and he bought 20 donuts. This year his income is $15 000 and he buys 36 donuts.Calculate, and interpret, Alex's income elasticity of demand for donuts. Round your answer to two decimal places, if necessary.

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