Figure: Harold's Indifference Curves The figure shows three of Harold's indifference curves for bread and cheese. (Figure: Harold's Indifference Curves) Look at the figure Harold's Indifference Curves.Given that the price of bread is $1 per loaf and the price of cheese is $2, as Harold's income increases from
$10 to $14, we can determine that:
A)both bread and cheese are inferior goods.
B)bread is a normal good and cheese is an inferior good.
C)bread is an inferior good and cheese is a normal good.
D)both bread and cheese are normal goods.

Question

Figure: Harold's Indifference Curves The figure shows three of Harold's indifference curves for bread and cheese.   (Figure: Harold's Indifference Curves) Look at the figure Harold's Indifference Curves.Given that the price of bread is $1 per loaf and the price of cheese is $2, as Harold's income increases from
$10 to $14, we can determine that:
A)both bread and cheese are inferior goods. 
B)bread is a normal good and cheese is an inferior good. 
C)bread is an inferior good and cheese is a normal good. 
D)both bread and cheese are normal goods.

Quizplus · Accepted Answer

The Answer of Figure: Harold's Indifference Curves The figure shows three of Harold's indifference curves for bread and cheese.   (Figure: Harold's Indifference Curves) Look at the figure Harold's Indifference Curves.Given that the price of bread is $1 per loaf and the price of cheese is $2, as Harold's income increases from
$10 to $14, we can determine that:
A)both bread and cheese are inferior goods. 
B)bread is a normal good and cheese is an inferior good. 
C)bread is an inferior good and cheese is a normal good. 
D)both bread and cheese are normal goods.

Figure: Harold's Indifference Curves the Figure Shows Three of Harold's