Multiple Choice
For Sara, ramen noodles are a normal good, however Sean considers ramen noodles to be inferior. If Sara and Sean have the same amount of income:
A) Sean's income effect will be stronger than Sara's income effect.
B) Sean's substitution effect will be stronger than Sara's substitution effect.
C) Sean's demand for ramen noodles will be more price elastic than Sara's.
D) Sean's demand for ramen noodles will be less price elastic than Sara's.
Correct Answer:
Verified
Correct Answer:
Verified
Q74: Suppose that there are two goods, X
Q75: Amina has $200 to spend on fishing
Q76: (Figure: Quantity of Goods Y and X
Q77: Suppose that a consumer has utility U(X,Y)
Q78: Suppose there are 100 consumers in the
Q80: (Figure: Good Y and Good X VI)
Q81: (Figure: Batting Gloves and Baseball Hats I)
Q82: (Figure: Good Y and Good X III)
Q83: Suppose the price of a Giffen good,
Q84: A consumer's bundle includes the inferior good