Business, 29.07.2019 23:10, chivitogomez2400

He income elasticity of demand for haircuts is 1.5, and the income elasticity of demand for food is 0.14. you take a weekend job, and the income you have to spend on food and haircuts doubles. if the prices of food and haircuts remain the same, you will a. more than double your expenditure on haircuts and less than double your expenditure on food b. double your expenditure on haircuts and double your expenditure on food c. increase your expenditure on haircuts by 1.5 percent and increase your expenditure on food by 0.14 percent d. increase your expenditure on haircuts by 150 percent and increase your expenditure on food by 140 percent e. not change your expenditure on either food or haircuts because you don't need to have your hair cut more frequently and you already have enough to

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He income elasticity of demand for haircuts is 1.5, and the income elasticity of demand for food is...