Table 5-5 The following table shows a portion of the demand schedule for a particular good at various levels of income. Quantity Demanded Price Income-$5,000 Quantity Demanded Income-$7.5000 Quantity Demanded Income $10.000) $24 2 $20 3 6 8 $16 6 9 12 $12 B 12 16 $8 10 15 20 54 12 18 24 Refer to Table 5-5. Using the midpoint method, at a price of $16. what is the income elasticity of demand when income rises from $5000 to $10,000? 0.00 0630 OL00 150