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n the past eight months, Raquel's income increased from $1,000 per month to $1,200 per month. Raquel and her husband usually made 16 cheese sandwiches
n the past eight months, Raquel's income increased from $1,000 per month to $1,200 per month. Raquel and her husband usually made 16 cheese sandwiches in a month, however due to Raquel's new salary, they now only make 10 sandwiches per month. Using the mid-point formula, the income elasticity is _________ and cheese sandwiches are __________ goods.
- a.)
- b.)
- c.)
- d.)
-0.4; inferior
1.9; normal
0.5; normal
-2.5; inferior
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