Question

35. Last year, Joan bought 50 pounds of hamburger when her household's income was $40 000. This year, the household income was only $30 000 and Joan bought 60 pounds of hamburger. All else constant, what is Joan's income elasticity of demand for hamburger, and what does this imply? a. positive, so Joan considers hamburger to be an inferior good b. positive, so Joan considers hamburger to be a normal good and a necessity C. negative, so Joan considers hamburger to be an inferior good d. negative, so Joan considers hamburger to be a normal good