Determine the income elasticity of demand for eating out

Reference no: EM131480737

Question: A worker gets a 25% raise. As a result, he decides to eat out twice as much as before and cut back on the number of frozen lasagna dinners from once a week to once every other week. Determine the income elasticity of demand for eating out and for having frozen lasagna dinners.

Reference no: EM131480737

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