When the Shaffers had a monthly income of $8,000,they would usually eat out eight times a month.Now that the couple makes $8,500 a month,they eat out ten times a month.Compute the couple's income elasticity of demand using the midpoint method.Explain your answer.(Is a restaurant meal a normal or inferior good to the couple)?

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The Answer of When the Shaffers had a monthly income of $8,000,they would usually eat out eight times a month.Now that the couple makes $8,500 a month,they eat out ten times a month.Compute the couple's income elasticity of demand using the midpoint method.Explain your answer.(Is a restaurant meal a normal or inferior good to the couple)?

When the Shaffers Had a Monthly Income of $8,000,they Would