Question
A consumer's weekly income is $350, and the consumer buys 6 bars of chocolate per week. When weekly income increases to $380, the consumer buys
A consumer's weekly income is $350, and the consumer buys 6 bars of chocolate per week. When weekly income increases to $380, the consumer buys 7 bars per week. The income elasticity of demand for chocolate by this consumer is about
Multiple Choice
0.53.
1.2.
0.83.
1.87.
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Macroeconomics
Authors: Charles I. Jones
4th Edition
393603767, 393603768, 9780393616125 , 978-0393603767
