Determine if wine is normal or inferior good

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Reference no: EM131090922

Susan received news from her boss that she has been given a raise in incomes from $20/ hour to $25/ hour for her 40 hour week job, effective immediately. Over the next week her purchase of wine increased from 4 bottles to 6 bottles. Compute her income elasticity of demand for weekly wine consumption and determine if wine is a normal or inferior good for Susan.

Reference no: EM131090922

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