If demand for personal computers increases as a result of an increase in income,
A) personal computers must be a normal good
B) personal computers must be an inferior good
C) personal computers must be a complement
D) the substitutes for personal computers must be inferior goods
E) the substitution effect is larger than the income effect
Correct Answer:
Verified
Q37: Exhibit 4-1 Q38: The effect of a decrease in the Q39: Exhibit 4-1 Q40: There are three consumers in the market Q41: Which of the following might cause the Q43: If the price of gasoline (a normal Q44: Tax preparation services and IRS tax publications Q45: Which of the following is most likely Q46: If we say that demand has increased, Q47: If a decrease in the price of
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