If people consume fewer bottles of orange juice as their income rises, orange juice is
A) a necessity.
B) an abnormal good.
C) a normal good.
D) an inferior good.
Correct Answer:
Verified
Q192: If the price of a bottle of
Q193: On the Heritage Foundation's scale of "Economic
Q194: If the price is so low that
Q195: Market quantity demanded measures the amount of
Q196: Where the supply and demand curves cross,
Q198: A per unit tax or percentage tax
Q199: The supply curve slopes upward because producers'
Q200: If farmers expect the government to increase
Q201: An increase in the subsidy paid to
Q202: An increase in the excise tax imposed
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