Multiple Choice
Eric's income increased from $40,000 to $50,000 per year.Eric's consumption of tickets to pro football games increased from two to four per year.By the midpoint formula,his income elasticity of demand for pro football game tickets is equal to _____,and football game tickets are _____ goods.
A) -0.33;inferior
B) +0.67;normal
C) -3;inferior
D) +3;normal
Correct Answer:
Verified
Correct Answer:
Verified
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