When Judy's income increased from $400 to $440 a week, she increased her demand for concert tickets by 10 percent and decreased her demand for bus rides by 15 percent. Calculate Judy's income elasticity of demand for concert tickets and bus rides. >>> Answer to 2 decimal places. >>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign. Judy's income elasticity of demand for concert tickets is
When Judy's income increased from $400 to $440 a week, she increased her demand for concert tickets by 10 percent and decreased her demand for bus rides by 15 percent. Calculate Judy's income elasticity of demand for concert tickets and bus rides. >>> Answer to 2 decimal places. >>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign. Judy's income elasticity of demand for concert tickets is
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
When Judy's income increased from
demand for concert tickets by
$400
to
$440
a week, she increased her 10
percent and decreased her demand for bus rides by
15
percent.Calculate Judy's income elasticity of demand for concert tickets and bus rides.
>>> Answer to 2 decimal places.
>>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign.
Judy's income elasticity of demand for concert tickets is
nothing.
![### 4.2 Study Plan Problem 6
When Judy's income increased from $400 to $440 a week, she increased her demand for concert tickets by 10 percent and decreased her demand for bus rides by 15 percent.
Calculate Judy's income elasticity of demand for concert tickets and bus rides.
- **Answer to 2 decimal places.**
- **If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign.**
Judy's income elasticity of demand for concert tickets is [___].](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F45ce01e9-7811-4cfa-9675-7040aaaca030%2Fe471ba52-2cf4-45aa-afd4-011ec540030b%2Fs6ljb74_processed.png&w=3840&q=75)
Transcribed Image Text:### 4.2 Study Plan Problem 6
When Judy's income increased from $400 to $440 a week, she increased her demand for concert tickets by 10 percent and decreased her demand for bus rides by 15 percent.
Calculate Judy's income elasticity of demand for concert tickets and bus rides.
- **Answer to 2 decimal places.**
- **If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign.**
Judy's income elasticity of demand for concert tickets is [___].
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