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Lauren1 Lauren1
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Posts: 4120
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9 years ago
Last year when John graduated and received a 20 percent pay increase, the average number of restaurant meals he consumed rose from one a week to three a week. Hence his income elasticity for restaurant meals is
A) 0.50.
B) -0.50.
C) 5.00.
D) -5.00.
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MrDerecheMrDereche
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9 years ago
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Lauren1 Author
wrote...
#2
9 years ago
Thank you, this really, really helps Heavy Heart
wrote...
#3
9 years ago
You're welcome!
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