Multiple Choice
The market for macaroni and cheese has only two consumers, Darshak and Winta. Market demand for macaroni and cheese will tend to be more elastic if:
A) Darshak and Winta consider macaroni and cheese to be a necessity good rather than a luxury good.
B) Darshak and Winta consider macaroni and cheese to be an inferior good rather than a normal good.
C) Darshak and Winta consider macaroni and cheese to be a normal good rather than an inferior good.
D) Darshak and Winta consider macaroni and cheese to be an economic "bad."
Correct Answer:
Verified
Correct Answer:
Verified
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