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Question
Janice earns an income of $2,000 a week and goes out to lunch 3 times a week. If her income increased to $2,100 she would go out to lunch 4 times a week. Compute Janiceʹs income elasticity of demand.
A) 0.17
B) 5.86
C) 7
D) 100
Answer
This answer is hidden. It contains 1 characters.
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