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Migo7s Migo7s
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5 years ago

Question 1.

If an increase in the incomes of people who live in the Los Angeles area leads to an increase in the demand for season tickets for games played by the Los Angeles Lakers professional basketball team, then these season tickets are

• an income complement.

• an inferior good.

• an income substitute.

• a normal good.

Question 2.

For a normal good, an increase in consumer income will lead to
I.a movement down the demand curve
II.a rightward shift in the demand curve
III.a reduction in supply


• I only.

• II only.

• III only.

• both II and III.
Textbook 
Economics Today: The Micro View

Economics Today: The Micro View


Edition: 19th
Author:
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Lori734Lori734
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5 years ago
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