QUESTION

Text
Image


Blake eats two bags of potato chips each day. When Blake's hourly wage increases from $\$ 7$ to $\$ 15$, he decides to stop eating generic potato chips and starts eating a name brand potato chip. Use the midpoint method to calculate Blake's income elasticity of demand for generic potato chips. Round your answer to two decimal places. income elasticity of demand for generic potato chips: 2.75 Incorrect For Blake, generic potato chips are a normal good. an inferior good. a luxury good. Incorrect

Public Answer

SXBJHW The First Answerer