Bus tickets are often considered _____ goods because _____.
A) inferior; as the price of a related good falls, demand for bus tickets increases
B) inferior; as income rises, demand for bus tickets falls
C) substitute; as the price of a related good falls, demand for bus tickets decreases
D) substitute; as income rises, demand for bus tickets falls
Correct Answer:
Verified
Q12: Suppose that a person discovers that, ceteris
Q62: An item whose demand rises as people's
Q83: When a consumer's income level is low,
Q87: Which factor will NOT cause a change
Q90: (Figure: Predicting Demand Shifts) Which factor would
Q91: Which factor would cause a decrease in
Q156: An increase in the price of ice
Q183: If an increase in income leads to
Q288: If consumers believe that an item will
Q310: Which item would be considered a complementary
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