Mary buys 27 tuna sandwiches when her income is $37. Her income rises to $45 and now she buys 2 tuna sandwiches. What is Mary's income elasticity of demand? (Use the midpoint method for your calculations and round your answer to two decimal places.

Mary buys 27 tuna sandwiches when her income is $37. Her income rises to $45 and now she buys 2 tuna sandwiches. What is Mary's income elasticity of demand? (Use the midpoint method for your calculations and round your answer to two decimal places.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter7: Demand And Supply

Section: Chapter Questions

Problem 23AA

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