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Suppose That Average Incomes Decreased from $38,000 to $36,000,and the Quantity

Question 1

Multiple Choice

Suppose that average incomes decreased from $38,000 to $36,000,and the quantity demanded of a product increased from 45 to 55.What type of product must this be?


A) Substitute product.
B) Inferior product.
C) Luxury product.
D) Necessity.
E) Superior product.

Correct Answer:

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