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When Adam had a monthly income of $4,000, he ate out 8 times a month. Now that he makes $4,500 a month, he eats out

When Adam had a monthly income of $4,000, he ate out 8 times a month. Now that he makes

$4,500 a month, he eats out 10 times a month. a.Compute Adam's income elasticity of demand using the midpoint method.

b. Explain your answer.

c. Is a restaurant meal a normal or inferior good to Adam?

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