Question: Answer it correctly please. I will rate accordingly. 4) Marcus experiences an increase in income from $400/week to $450 per week. His consumption of chips

Answer it correctly please. I will rate accordingly. 4) Marcus experiences

Answer it correctly please. I will rate accordingly.

an increase in income from $400/week to $450 per week. His consumption

4) Marcus experiences an increase in income from $400/week to $450 per week. His consumption of chips goes up from 2 bags per week to 5 bags per week. (i) Calculate Marcus' income elasticity of chips (ii) Are chips a normal or inferior good for Marcus? Explain

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