Maria graduates from college and her income increases by $45,000. Nothing else changes. Maria decreases the quantity of donuts and pretzels that she buys and increases the quantity of ski trips that she buys. How would Maria describe these goods? For Maria, O A. donuts and ski trips have become substitutes OB. ski trips and pretzels are normal goods C. donuts and pretzels have become complements D. ski trips are normal goods
Maria graduates from college and her income increases by $45,000. Nothing else changes. Maria decreases the quantity of donuts and pretzels that she buys and increases the quantity of ski trips that she buys. How would Maria describe these goods? For Maria, O A. donuts and ski trips have become substitutes OB. ski trips and pretzels are normal goods C. donuts and pretzels have become complements D. ski trips are normal goods
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter5: Elasticity
Section: Chapter Questions
Problem 31CTQ: Economists define normal goods as having a positive income elasticity. We can divide normal goods...
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