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stars_and_moon stars_and_moon
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Posts: 3218
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8 years ago
When the price of movie tickets is $8, you can afford to go to 5 movies a month.  When the price of movie tickets increases to $10, you can only afford to go to 4 movies a month.  This is an example of
A) an increase in real income.
B) an inferior good.
C) the income effect.
D) the substitution effect.
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kingbykingby
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#1
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8 years ago
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#2
8 years ago
I figured, great answer
wrote...
#3
8 years ago
Great! Now we can move on to the next one
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