Blake eats two bags of potato chips each day. blake's hourly wage increases from $8 to $15, and he decides to stop eating generic chips and instead eats 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 2 decimal places. the good isa. a normal good and income-elasticb. a normal good and income-inelasticc. an inferior good

Plastic and steel are substitutes in the production of body panels for certain automobiles. if the price of plastic increases, with other things remaining the same, we would expect: a) the demand curve for plastic to shift to the left. b) the price of steel to fall. c) the demand curve for steel to shift to the left d) nothing to happen to steel because it is only a substitute for plastic. e) the demand curve for steel to shift to the right