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Last year, Damaris bought 8 burgers when her income was $43,000. This year, her income is $54,000, and she purchased 9 burgers. Holding other factors constant and using the midpoint method, it follows that Damaris's income elasticity of demand is about
A) 1.93, and Damaris regards burgers as inferior goods.
B) 1.93, and Damaris regards burgers as normal goods.
C) 0.52, and Damaris regards burgers as inferior goods.
D) 0.52, and Damaris regards burgers as normal goods.
On Sep 23, 2024