Sugar is a normal good. You observe that both the equilibrium price and quantity of sugar have risen over time. Which of the following would be most consistent with this observation? Consumers have experienced an increase in income and sugar-production technology has improved. The price of artificial sweetener has risen and the price of coffee has fallen. Consumer tastes have changed so as to prefer sugar less than before. The demand curve for sugar must be positively sloped.

Sugar is a normal good. You observe that both the equilibrium price and quantity of sugar have risen over time. Which of the following would be most consistent with this observation? Consumers have experienced an increase in income and sugar-production technology has improved. The price of artificial sweetener has risen and the price of coffee has fallen. Consumer tastes have changed so as to prefer sugar less than before. The demand curve for sugar must be positively sloped.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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