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djsmyers djsmyers
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6 years ago
Jerry spends his entire income on two goods, Bran and Tea. Every month he spends half of his income on each of these goods. Jerry's income elasticity of demand for Bran is .75. What is the income elasticity of demand for Tea?
A) 1.25
B) .75
C) 1
D) Unknown with the information provided
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
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unExpectedunExpected
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#1
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6 years ago
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djsmyers Author
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6 years ago
Thank you, thank you, thank you!
mmmm_dat_userna
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This calls for a celebration Person Raising Both Hands in Celebration
ezsancheezy
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Brilliant ツ
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