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Business, 01.10.2019 20:00 krazyykay

Consider maxine, a graduate student, whose consumption choices are focused on three goods: instant ramen, books, and fruits and vegetables. every week she buys 10 cups of instant ramen which cost $2 a cup, 5 pounds of fruits and vegetables at $6 a pound, and 2 books, at a price of $15 each. these purchases use up all the income she has allocated to them. the income elasticity of books is latex: 2\frac{2}{3}2 2 3 and the income elasticity of fruits and vegetables is latex: \frac{2}{3}2 3. what is the income elasticity of instant ramen?

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