Multiple Choice
If Casey bought 16 cotton t-shirts last year when her income was $40,000 and she buys 14 cotton t-shirts this year when her income is $45,000, then for Casey cotton t-shirts are
A) an inferior good.
B) a normal good.
C) a substitute good.
D) a complementary good.
E) There is not enough information to answer this question.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: If the price of good X falls
Q2: Exhibit 19-2<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 19-2
Q3: If the price of good A decreases
Q4: As the price of a good falls
Q5: The longer the period of time allowed
Q7: Cross elasticity of demand is the percentage
Q8: Price elasticity of demand is a measure
Q9: Exhibit 19-4<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 19-4
Q10: Exhibit 19-5<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 19-5
Q11: Exhibit 19-5<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6992/.jpg" alt="Exhibit 19-5