You and your college roommate eat three packages of Ramen noodles each week.After graduation last month,both of you were hired at several times your college income.Your roommate still enjoys Ramen noodles very much and buys even more,but you plan to buy fewer Ramen noodles in favor of foods you prefer more.When looking at income elasticity of demand for Ramen noodles,
A) yours would be negative and your roommate's would be positive.
B) yours would be positive and your roommate's would be negative.
C) yours would be zero and your roommate's would approach infinity.
D) yours would approach infinity and your roommate's would be zero.
Correct Answer:
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