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(a) The quantity of restaurant meals consumed by a person decreases from 60 to 45 per year when their annual income falls from $110,000 to

(a) The quantity of restaurant meals consumed by a person decreases from 60 to 45 per year when their annual income falls from $110,000 to $90,000. Find the income elasticity of demand for this good (use the mid-point formula). Show all steps.

(b) Based on your answer in (a), what type of good is this?

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