9. A worker eats at a restaurant once a week. He then gets a 25% raise. As

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9. A worker eats at a restaurant once a week. He then 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 one frozen dinner a week to one every other week. Determine the income elasticity of demand for eating at a restaurant and for having frozen lasagna dinners.

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Principles Of Microeconomics

ISBN: 9780393679199

3rd Edition

Authors: Dirk Mateer, Lee Coppock

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