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Jomama works at Burger King as a manager.With the loss in profit due to the COVID-19 pandemic, Jomama received a letter from the corporate office
Jomama works at Burger King as a manager.With the loss in profit due to the COVID-19 pandemic, Jomama received a letter from the corporate office announcing that she will receive a 40% reduction in her salary. As a result, she decides to cut back on the time she eats out from once a week to every other week. She decides to eat at her momma's house three times as much as before.
1. Calculate Jomama's income elasticity of demand foreating out
2. Calculate Jomama's income elasticity of demand foreating at her mom's house.
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