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myrzilka [38]
3 years ago
9

Sarah recently got a 10 percent raise. she now purchases 30 percent more in groceries on a weekly basis. sarah's income elastici

ty for groceries is
Business
1 answer:
Tomtit [17]3 years ago
3 0
Sarah's income elasticity for groceries = percentage increase in grocery / percentage raise in income.
Elasticity for groceries = 30 /10 = 3
Therefore, Sarah's income elasticity for groceries = 3.
Income elasticity is a value, which measures the responsiveness of the quantity demanded for a good or service to a change in the income of the consumers demanding for the good.
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Answer:

1.15%.

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4 years ago
How does supporting fair trade help consumers?
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6 0
3 years ago
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8 0
3 years ago
A company's Income Tax Payable account decreased from $14 million to $12 million during the year. If its income tax expense was
Flura [38]

Answer:

A cash outflow of $82 million is correct answer

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All other information which is given is not relevant. Hence, ignored it

8 0
3 years ago
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