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asprague24 asprague24
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5 years ago

Question 1.

If a decrease in income leads to a decrease in the demand for mac and cheese, then mac and cheese is

• a normal good.

• a neutral good.

• a complement.

• a necessity.

Question 2.

The income effect explains why there is an inverse relationship between the price of a normal good and the quantity of the good demanded.

• true

• false
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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shamanieshamanie
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5 years ago
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asprague24 Author
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#2
5 years ago
This site is awesome!
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#3
5 years ago
Slight Smile Good luck on the rest
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