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(Figure: Good Y and Good X V) in Panel (A)

Question 37

Multiple Choice

(Figure: Good Y and Good X V) In panel (a) , the price of good X is $1.50 per unit and the price of good Y is $3 per unit. In panel (b) , the consumer's income increased from $400 to $480.
Panel (a) Panel (b) (Figure: Good Y and Good X V) In panel (a) , the price of good X is $1.50 per unit and the price of good Y is $3 per unit. In panel (b) , the consumer's income increased from $400 to $480. Panel (a) Panel (b) Using panel (a) , good X is a (an) _____ good. A) necessity B) luxury C) inferior D) Giffen
(Figure: Good Y and Good X V) In panel (a) , the price of good X is $1.50 per unit and the price of good Y is $3 per unit. In panel (b) , the consumer's income increased from $400 to $480. Panel (a) Panel (b) Using panel (a) , good X is a (an) _____ good. A) necessity B) luxury C) inferior D) Giffen
Using panel (a) , good X is a (an) _____ good.


A) necessity
B) luxury
C) inferior
D) Giffen

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