Multiple Choice
Joe consumes 10 units of food and 12 units of clothing.Since food is an inferior good,a gift to Joe of a $12 gift certificate at a clothing store will:
A) induce Joe to eat more than 10 units of food.
B) definitely make Joe better off than a gift of $12 in cash.
C) definitely make Joe worse off than a gift of $12 in cash.
D) None of the preceding statements is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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