Janice Earns an Income of $2,000 a Week and Goes

question 364

Multiple Choice

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 Janice's income elasticity of demand.

• A) 0.17
• B) 5.86
• C) 7
• D) 100

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Definitions:

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The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a dismissive or derogatory view of other cultures.

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A set of moral, ethical, and societal norms regarding sexual behavior, which can vary greatly among different cultures and communities.

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