B D D2 The demand for a blueberries, a normal good, is srown in the graph above, A shift from B to A might be caused by: Multiple Choice a decrease in the price of blueberries. an increase in the price of blueberries. a decrease in the price of a substitute. an increase in the price of a substitute Peter recently has accepted a 10 percent cut in pay as part of cutbacks at his workplace. Now he makes his coffee at home instead of stopping at the local coffee shop every day. Based on this behavior, what can we assume about these goods for Peter? Multiple Choice Home-brewed coffee is a normal good and coffee shop coffee is an inferior good. Home-brewed coffee and coffee shop coffee are normal goods. Home-brewed coffee will become a normal good over time Home-brewed coffee is an inferior good and coffee shop coffee is a normal good.

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Elastic And Its Application
Section: Chapter Questions
Problem 5PA
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A
B
D,
The demand for a blueberries, a normal good, is shown in the graph above. A shift from B to A
might be caused by:
Multiple Choice
a decrease in the price of blueberries.
an increase in the price of blueberries.
a decrease in the price of a substitute.
an increase in the price of a substitute.
Peter recently has accepted a 10 percent cut in pay as part of cutbacks at his workplace. Now he
makes his coffee at home instead of stopping at the local coffee shop every day. Based on this
behavior, what can we assume about these goods for Peter?
Multiple Choice
Home-brewed coffee is a normal good and coffee shop coffee is an inferior
good.
Home-brewed coffee and coffee shop coffee are normal goods.
Home-brewed coffee will become a normal good over time
Home-brewed coffee is an inferior good and coffee shop coffee is a normal
good.
Transcribed Image Text:A B D, The demand for a blueberries, a normal good, is shown in the graph above. A shift from B to A might be caused by: Multiple Choice a decrease in the price of blueberries. an increase in the price of blueberries. a decrease in the price of a substitute. an increase in the price of a substitute. Peter recently has accepted a 10 percent cut in pay as part of cutbacks at his workplace. Now he makes his coffee at home instead of stopping at the local coffee shop every day. Based on this behavior, what can we assume about these goods for Peter? Multiple Choice Home-brewed coffee is a normal good and coffee shop coffee is an inferior good. Home-brewed coffee and coffee shop coffee are normal goods. Home-brewed coffee will become a normal good over time Home-brewed coffee is an inferior good and coffee shop coffee is a normal good.
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