Becky only eats out at Macaroni Grill, and she eats out three times per month. She receives a raise from $31,900 per year to $33,500 per year and decides to eat out five times per month. Use the midpoint method to calculate the monthly income elasticity of demand for eating out. Round your answer to two decimal places. This good is units O a normal good and income-inelastic. O a normal good and income-elastic. O an inferior good.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Becky only eats out at Macaroni Grill, and she eats out three times per month. She receives a raise from $31,900 per year to
$33,500 per year and decides to eat out five times per month. Use the midpoint method to calculate the monthly income
elasticity of demand for eating out. Round your answer to two decimal places.
This good is
units
O a normal good and income-inelastic.
a normal good and income-elastic.
O an inferior good.
Transcribed Image Text:Becky only eats out at Macaroni Grill, and she eats out three times per month. She receives a raise from $31,900 per year to $33,500 per year and decides to eat out five times per month. Use the midpoint method to calculate the monthly income elasticity of demand for eating out. Round your answer to two decimal places. This good is units O a normal good and income-inelastic. a normal good and income-elastic. O an inferior good.
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