Jill earns an income of $2,000 a week and goes out to dinner 4 times a week. If her income increased to $2,100 she would go out to dinner 5 times a week. Jill's income elasticity of demand is
A) 0.22
B) 4.56
C) 2.28
D) -0.22
Correct Answer:
Verified
Q316: Q317: Two items which have a positive cross Q318: If the price of one good increases, Q319: Suppose the price of A increases by Q320: The cross price elasticity of demand is Q322: If the price of wireless phone service Q323: If one's demand for good X decreases Q324: Which of the following goods is likely Q325: The responsiveness of demand to changes in Q326: Income elasticity relates to![]()
A) a movement down
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