Multiple Choice
Shawna wins the lottery and her income increases by 60%. She used to buy 10 pints of cottage cheese per month and now she buys 12 pints. Her income elasticity of demand for cottage cheese is , making it a(n) good.
A) 3; luxury
B) 3.59; normal
C) 0.33; necessity
D) 0.28; inferior
E) -0.33; inferior
Correct Answer:
Verified
Correct Answer:
Verified
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