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Stephen graduates from college and his income increases by $35,000. Nothing else changes. Stephen decreases the quantity of hot dogs and potato chips that he buys and increases the quantity of books that he buys. How would Stephen describe these goods? For Stephen, O A. hot dogs and books have become substitutes B. hot dogs and potato chips have become complements OC. books are normal goods OD. books and potato chips are normal goods

Stephen graduates from college and his income increases by $35,000. Nothing else changes. Stephen decreases the quantity of hot dogs and potato chips that he buys and increases the quantity of books that he buys. How would Stephen describe these goods? For Stephen, O A. hot dogs and books have become substitutes B. hot dogs and potato chips have become complements OC. books are normal goods OD. books and potato chips are normal goods

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Stephen graduates from college and his income increases by $35,000. Nothing else changes. Stephen decreases the quantity of hot dogs and potato chips that he buys and increases the quantity of books that he buys. How would Stephen describe these goods? For Stephen, O A. hot dogs and books have become substitutes B. hot dogs and potato chips have become complements OC. books are normal goods OD. books and potato chips are normal goods
Transcribed Image Text:Stephen graduates from college and his income increases by $35,000. Nothing else changes. Stephen decreases the quantity of hot dogs and potato chips that he buys and increases the quantity of books that he buys. How would Stephen describe these goods? For Stephen, O A. hot dogs and books have become substitutes B. hot dogs and potato chips have become complements OC. books are normal goods OD. books and potato chips are normal goods
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