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Quinn Penelope Rosenbloom

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QP

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Ted, the credit manager in a truck dealership, provides political support to the group when he uses his good relationship with the dealership president to fund new furniture for the group.

On Sep 27, 2024


True
QP

Answered

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


D