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Business, 30.03.2020 23:10 peno211

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:For Blake, generic potato chips arean inferior good. a luxury good. a normal good.

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Blake eats two bags of potato chips each day. When Blake's hourly wage increases from $7 to $15, he...
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