Business, 31.03.2020 01:30 LAMARTINEZ321

Blake eats two bags of generic potato chips each day, and does not purchase any name-brand chips. Blake's hourly wage increases from $ 8 to $ 15 , and he decides to eat one name-brand bag and one generic-brand bag each day. Calculate Blake's income elasticity of demand for generic potato chips. Vacations are a(n) normal good. As a good, vacations are income-elastic. Generic potato chips are a(n) inferior good. As a good, generic potato chips are neither income-elastic nor income-inelastic.

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Blake eats two bags of generic potato chips each day, and does not purchase any name-brand chips. Bl...

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