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DoveNinja763537 DoveNinja763537
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2 years ago
Suppose that over a 12-month period, Sonali's income (Y) rises from $27 000 to $35 000 per year and, as a result, her spending on travel (T) increases from $1500 to $2500 per year. Assume there is a linear relation between the two variables, Y and T. What is the marginal response in T to a change in Y?

▸ 8

▸ 4

▸ 0

▸ 0.125

▸ 0.25
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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Gab27Gab27
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2 years ago
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