Will Feckless unexpectedly inherits $10,000 from a rich uncle.He is observed to consume fewer hamburgers than he used to.
A)Hamburgers are a Giffen good for Will.
B)Hamburgers are a normal good for Will.
C)Will's Engel curve for hamburgers is vertical.
D)Will's Engel curve for hamburgers is horizontal.
E)Will's preferences are not homothetic.

Question

Quizplus · Accepted Answer

The Answer of Will Feckless unexpectedly inherits $10,000 from a rich uncle.He is observed to consume fewer hamburgers than he used to.
A)Hamburgers are a Giffen good for Will.
B)Hamburgers are a normal good for Will.
C)Will's Engel curve for hamburgers is vertical.
D)Will's Engel curve for hamburgers is horizontal.
E)Will's preferences are not homothetic.

Will Feckless Unexpectedly Inherits $10,000 from a Rich Uncle