Mary buys 27 tuna sandwiches when her income is $37. Her income rises to $45 and now she buys 2 tuna sandwiches. What is Mary's income elasticity of demand? (Use the midpoint method for your calculations and round your answer to two decimal places.

Principles of Economics 2e
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ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter5: Elasticity
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Problem 31CTQ: Economists define normal goods as having a positive income elasticity. We can divide normal goods...
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Mary buys 27 tuna sandwiches when her income is $37. Her income rises to $45 and now she buys 2 tuna sandwiches. What is Mary's income elasticity of demand? (Use the midpoint method for your calculations and round your answer to two decimal places.)
 
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