Top Posters
Since Sunday
g
3
2
J
2
p
2
m
2
h
2
s
2
r
2
d
2
l
2
a
2
s
2
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
dskmvld dskmvld
wrote...
Go to Answer
Posts: 489
Rep: 14 0
5 years ago

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
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
Read 187 times
1 Reply
Replies
Answer verified by a subject expert
jeromet1jeromet1
wrote...
#1
Posts: 386
Rep: 67 0
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

dskmvld Author
wrote...

5 years ago
Smart ... Thanks!
TAT1238
wrote...

Yesterday
Good timing, thanks!
kh540941
wrote...

2 hours ago
This calls for a celebration Person Raising Both Hands in Celebration
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  694 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 4422
  
 562
  
 333
Your Opinion
Where do you get your textbooks?
Votes: 284
Previous poll results: What percentage of nature vs. nurture dictates human intelligence?