Business, 14.04.2020 20:13 rrusso4

When the Shaffers had a monthly income of $4,000, they usually ate out 8 times a month. Now that the couple makes $4,500 a month, they eat out 10 times a month. Compute the couple's income elasticity of demand for restaurant meals. Is a restaurant meal a normal or an inferior good to the couple?

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When the Shaffers had a monthly income of $4,000, they usually ate out 8 times a month. Now that the...

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