Consider the following information before answering the question below:
Burgin's Income elasticity for gizmos is -5.
What happens when Burgin's income increases by 10 percent?
A. He will buy $50 worth more of gizmos.
OB. He will buy 50 percent less gizmos.
OC. He will buy 5 more gizmos.
OD. He will buy 50 percent more gizmos.
OE. He will buy 5 percent fewer gizmos