Kimberly decides to decrease her hours at work to focus on school. Now that she has less income, she finds herself eating less steak and more pasta than ever before. What can we conclude about these goods?
A) Steak and pasta are both normal goods, because she will eat both regardless of her income.
B) Steak and pasta are both inferior goods, because she will eat both regardless of her income.
C) Pasta is an inferior good, because her demand for pasta increased when her income went down.
D) Steak is an inferior good, because her demand for steak decreased when her income went down.
Correct Answer:
Verified
Q130: Weizhe is a surgeon who spends two
Q131: Altruism describes a motive for action in
Q132: Q133: While checking out at the pet store, Q134: "Do unto others as you would have Q135: What are Veblen goods? Q136: Manu offers to buy his friend lunch Q137: The concept of utility maximization: Q139: When the price of one good changes, Q140: Nick has $300 a month to spend![]()
A)Goods that exemplify the
A)is solely used
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