Multiple Choice
If your income rises by 15 percent and, as a result, you buy more steak, then steak is a(n)
A) substitute.
B) normal good.
C) complement.
D) inferior good.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q109: "Unit elasticity of demand can be found
Q167: Changes in technology over time will result
Q316: The demand curve for petroleum should be<br>A)
Q317: A 2 percent rise in the price
Q319: The price elasticity of demand is<br>A) always
Q321: Which of the following is a determinant
Q324: When numerous but imperfect substitutes exist for
Q343: Total revenues reach a maximum when<br>A) demand
Q398: All of the following are true regarding
Q407: If the absolute price elasticity of demand