When Alex's income increased from $7.000 to $9.000, he increased his consumption of bagels from 5 to 9 a month and decreased his consumption of donuts from 15 to 9 a month. Calculate Alex's income elasticity of demand for bagels and donuts. >>> Answer to 2 decimal places. >>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign. Alex's income elasticity of demand for bagels is

Principles of Economics 2e
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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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When​ Alex's income increased from
​$7,000
to
​$9,000​,
he increased his consumption of bagels from
5
to
9
a month and decreased his consumption of donuts from
15
to
9
a month.
 
Calculate​ Alex's income elasticity of demand for bagels and donuts.
 
​>>> Answer to 2 decimal places.
   
​>>> If your answer is​ negative, include a minus sign. If your answer is​ positive, do not include a plus sign.
 
​Alex's income elasticity of demand for bagels is?
Alex's income elasticity of demand for donuts is?
4.2 Additional Problem 19
Question H
When Alex's income increased from $7,000 to $9,000, he increased his consumption of bagels from 5 to 9 a month and decreased his consumption of donuts from 15 to 9 a month.
Calculate Alex's income elasticity of demand for bagels and donuts.
>>> Answer to 2 decimal places.
>>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign.
Alex's income elasticity of demand for bagels is
Transcribed Image Text:4.2 Additional Problem 19 Question H When Alex's income increased from $7,000 to $9,000, he increased his consumption of bagels from 5 to 9 a month and decreased his consumption of donuts from 15 to 9 a month. Calculate Alex's income elasticity of demand for bagels and donuts. >>> Answer to 2 decimal places. >>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign. Alex's income elasticity of demand for bagels is
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