Multiple Choice
Last year,Max bought 6 pairs of athletic shoes when his income was $35,000.This year,his income is $42,000,and he purchased 8 pairs of athletic shoes.Holding other factors constant,it follows that Max
A) considers athletic shoes to be necessities.
B) considers athletic shoes to be inferior goods.
C) considers athletic shoes to be normal goods.
D) has a low price elasticity of demand for athletic shoes.
Correct Answer:

Verified
Correct Answer:
Verified
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