Barron used to make $2,500 a month and eat sushi three times per month. Now he is making $3,500 a month and is eating sushi seven times per month. What is Barron’s income elasticity of demand for sushi? For Barron, is sushi 1) a normal good or an inferior good, and

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter6: Consumer Choices
Section: Chapter Questions
Problem 15CTQ: Income Effects depend on the income elasticity of demand for each good limit you buy. If one of the...
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Barron used to make $2,500 a month and eat sushi three times per month. Now he is making $3,500 a month and is eating sushi seven times per month. What is Barron’s income elasticity of demand for sushi? For Barron, is sushi 1) a normal good or an inferior good, and 2) a necessity or a luxury?

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