You have estimated the income elasticity of your product and it is a -0.80. (Yes, that says negative zero point eight zero). Incomes in your market increase from $200,000 to $240,000. Which of the following comes closest to the change in the quantity demanded that will result from this change in income? Multiple Choice Quantity demanded will decrease by 10% Quantity demanded will increase by 10% Quantity demanded will decrease by 16% Quantity demanded will increase by 20%