When Joshua's income increases, he purchases more prime-rib dinners than he did before his income increased. For Joshua, prime-rib dinners are
A) a normal good.
B) an inferior good.
C) an optimal good.
D) a Giffen good.
Correct Answer:
Verified
Q182: Figure 21-13 Q183: Scenario 21-2 Q184: Ryan experiences an increase in her wages. Q185: Figure 21-14 Q186: Consider the indifference curve map and budget Q188: Figure 21-13 Q189: Scenario 21-2 Q190: If a good is a Giffen good, Q191: The labor supply curve may have a Q192: Figure 21-13 Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
Aliyah has recently graduated from college
Aliyah has recently graduated from college