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Price of Ice Cream ConesJesseMissy$156244332421510The table above shows the quantity of ice cream ...

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Price of Ice Cream ConesJesseMissy$156244332421510The table above shows the quantity of ice cream ...

Price of Ice Cream Cones	Jesse	Missy
$1	5	6
2	4	4
3	3	2
4	2	1
5	1	0

The table above shows the quantity of ice cream cones demanded by Jesse and Missy, the only two people in town who eat ice cream cones. What can we say about the market quantity demanded at a price of $2 per cone if Missy were to win $10000 in the lottery?

▸ It would be less than 8 if ice cream cones are an inferior good.

▸ It would be 4.

▸ It would be 8.

▸ It would definitely be more than 8.

Textbook

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

Read 186 times

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I appreciate what you did here, answered it right Smiling Face with Open Mouth

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