Multiple Choice
Repeated hurricanes in Florida have caused some retirees to choose to retire to Arizona instead. Based on this information, retirement housing in Florida and that in Arizona are what kinds of goods?
A) Florida housing has become an inferior good, and Arizona housing had been a luxury good.
B) Florida housing has become a luxury good, and Arizona housing had been an inferior good.
C) Florida housing and Arizona housing are substitutes.
D) Florida housing and Arizona housing are complementary goods.
Correct Answer:
Verified
Correct Answer:
Verified
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