Charlespurchases20basketballticketsperyearwhenhisannualincomeis$50,000and25basketballticketswhenhisannualincomeis$60,000.Charles’sincomeelasticityofdemandforbasketballticketis A: 0.82, and basketball tickets are a normal good. B: 0.82, and basketball tickets are an inferior good. C: 1.22, and basketball tickets are a normal good. D: 1.22, and basketball tickets are an inferior good.
Charlespurchases20basketballticketsperyearwhenhisannualincomeis$50,000and25basketballticketswhenhisannualincomeis$60,000.Charles’sincomeelasticityofdemandforbasketballticketis A: 0.82, and basketball tickets are a normal good. B: 0.82, and basketball tickets are an inferior good. C: 1.22, and basketball tickets are a normal good. D: 1.22, and basketball tickets are an inferior good.
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