Suppose that household incomes in Sherbrooke changed from $61,200 to $74,800, and assuming no change in price, the quantity of a Kraft macaroni and cheese sold changed from 88 to 132 cases per week.

a) What is the value of the income elasticity of demand for a Kraft macaroni and cheese? Round your answer to 3 decimal places.When applicable, remember to enter a minus () sign to indicate negative values.

b) What does this suggest about this product?

(Click to select) Inferior Luxury Necessity