A worker gets a 25% raise. As a result, he decides to eat out twice as much

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A worker gets a 25% raise. As a result, he decides to eat out twice as much as before and cut back on the number of frozen lasagna dinners from once a week to once every other week. Determine the income elasticity of demand for eating out and for having frozen lasagna dinners.

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Principles Of Economics

ISBN: 978-0393283365

1st Edition

Authors: Dirk Mateer ,Lee Coppock

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