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Question 25 (1 point) If Eric's annual income decreases from $100,000 to $20,000 and his purchases of generic peanut butter increases from 0 to 10,

Question 25 (1 point) If Eric's annual income decreases from $100,000 to $20,000 and his purchases of generic peanut butter increases from 0 to 10, what is his income elasticity of demand for this item? 0.67 1.5 O-0.67 O -1.5

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