Fred consumes pork chops and lamb chops and nothing else.When the price of pork chops rises with no change in his income or in the price of lamb chops, Fred buys fewer lamb chops and fewer pork chops.
A)Pork chops are a normal good for Fred.
B)Lamb chops are a normal good for Fred.
C)Pork chops are an inferior good for Fred.
D)Lamb chops are an inferior good for Fred.
E)Fred prefers pork chops to lamb chops.

Question

Quizplus · Accepted Answer

The Answer of Fred consumes pork chops and lamb chops and nothing else.When the price of pork chops rises with no change in his income or in the price of lamb chops, Fred buys fewer lamb chops and fewer pork chops.
A)Pork chops are a normal good for Fred.
B)Lamb chops are a normal good for Fred.
C)Pork chops are an inferior good for Fred.
D)Lamb chops are an inferior good for Fred.
E)Fred prefers pork chops to lamb chops.

Fred Consumes Pork Chops and Lamb Chops and Nothing Else