The table below shows the quantities of automobiles, margarine, and coffee purchased by Ted at different levels of income. Table 5.2
Based on the information given in Table 5.2, coffee would be considered:
A)an inferior good.
B)a necessity.
C)a normal good.
D)a negative good.
E)a luxury good.

Question

The table below shows the quantities of automobiles, margarine, and coffee purchased by Ted at different levels of income. Table 5.2
 Based on the information given in Table 5.2, coffee would be considered:
A)an inferior good. 
B)a necessity. 
C)a normal good. 
D)a negative good. 
E)a luxury good.

Quizplus · Accepted Answer

The Answer of The table below shows the quantities of automobiles, margarine, and coffee purchased by Ted at different levels of income. Table 5.2
 Based on the information given in Table 5.2, coffee would be considered:
A)an inferior good. 
B)a necessity. 
C)a normal good. 
D)a negative good. 
E)a luxury good.

The Table Below Shows the Quantities of Automobiles, Margarine, and Coffee