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11. Ahmed and Lara had a monthly income of 15,000 EGP, and they usually ate out 6 times a month. Now Ahmed get a new
11. Ahmed and Lara had a monthly income of 15,000 EGP, and they usually ate out 6 times a month. Now Ahmed get a new job then, the couple makes 23,500 EGP a month; they eat out 8 times a month. Compute the family's income elasticity of demand. And explain your answer. Is a restaurant meal a normal or inferior good to the couple? And why?
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