Question
Person A purchases 20 units of a good when her weekly income is $600 and 30 units of the good when her weekly income
Person A purchases 20 units of a good when her weekly income is $600 and 30 units of the good when her weekly income is $420. a. Compute the income elasticity. Round it to two decimal places. b. Is it a normal good or an inferior good?
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Precalculus
Authors: Michael Sullivan
9th edition
321716835, 321716833, 978-0321716835
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