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Title: Jill earns an income of $2,000 a week and goes out to dinner 4 times a week. If her income increased ... Post by: dskmvld on Mar 3, 2019 Question 1. When Tim earned $65,000 he purchased 10 novels a year. His income has just increased to $68,000 and he plans to purchase 15 novels this year. Tim's income elasticity of demand for novels equals• 0.11. • 0. • 1.67. • 8.87. Question 2. Jill earns an income of $2,000 a week and goes out to dinner 4 times a week. If her income increased to $2,100 she would go out to dinner 5 times a week. Jill's income elasticity of demand is• 0.22 • 4.56 • -0.22 • 2.28 Title: Jill earns an income of $2,000 a week and goes out to dinner 4 times a week. If her income increased ... Post by: jeromet1 on Mar 3, 2019 Content hidden
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