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The price of a fish dinner is $4.When Harry's old income was $1,500 per month, his old monthly demand for fish dinners was Q =

The price of a fish dinner is $4.When Harry's old income was $1,500 per month, his old monthly demand for fish dinners was Q = 18 - 0.5P.When Harry got a pay raise and began to earn a new income of $2,000 per month, his demand shifted to a new function of Q = 21 - 0.5P.Given this information, find Harry's income elasticity (EI) for fish dinners.Harry's income elasticity is for fish dinner is .56

Consider your answer to the previous question.Based on the income elasticity you found, we can conclude that for Harry, fish dinner is considered _________________.

a normal good, and a luxury

a normal good, and a necessity

an inferior good

(The answer for the first question is Bold)

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