Income elasticity of demand

Economics
Tutor: None Selected Time limit: 1 Day

 Blake eats two bags of generic potato chips each day, not buying any name brand chips. Blake\'s hourly wage increases from $8 to $15, and he decides to eat one name brand bag and one generic brand each day. Calculate Blake\'s income elasticity of demand for generic potato chips.

Jul 25th, 2015

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23/35=0.65.....................

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Jul 25th, 2015

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Jul 25th, 2015
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Jul 25th, 2015
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