[Steps Shown] Nadia’s income has increased from $3,000 to $5,000. Nadia increased her consumption of anchovies from 4 to 8 a month and decreased her consumption
Question: Nadia’s income has increased from $3,000 to $5,000. Nadia increased her consumption of anchovies from 4 to 8 a month and decreased her consumption of sardines from 12 to 6 a month. Calculate Nadia’s income elasticity of demand for (a) anchovies and (b) sardines. ( Fully Explain the Economic Interpretation of each calculated ε y , and be sure to use the in-class provided formula).
Deliverable: Word Document 
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