When Sam has an income of $1,000, he consumes 30 units of good A and 50 units of good B. After Samâs income increases to $1,500, he consumes 60 units of good A and 40 units of good B. Which of the following statements is correct? Both goods A and B are inferior goods Both goods A and B are normal goods Good A is a normal good, and good B is an inferior good Good A is an inferior good, and good B is a normal good
When Sam has an income of $1,000, he consumes 30 units of good A and 50 units of good B. After Samâs income increases to $1,500, he consumes 60 units of good A and 40 units of good B. Which of the following statements is correct? Both goods A and B are inferior goods Both goods A and B are normal goods Good A is a normal good, and good B is an inferior good Good A is an inferior good, and good B is a normal good
Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter6: Consumer Choice And Demand
Section: Chapter Questions
Problem 6QFR
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![When Sam has an income of $1,000, he consumes 30 units of good A and 50 units of good B. After Samâs
income increases to $1,500, he consumes 60 units of good A and 40 units of good B. Which of the following
statements is correct?
Both goods A and B are inferior goods
Both goods A and B are normal goods
Good A is a normal good, and good B is an inferior good
Good A is an inferior good, and good B is a normal good](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb2cc9a2d-ec77-4a05-bae1-057f3a74c873%2F2ae2d121-4234-46b9-8874-01af390be0ee%2F6koe6em_processed.jpeg&w=3840&q=75)
Transcribed Image Text:When Sam has an income of $1,000, he consumes 30 units of good A and 50 units of good B. After Samâs
income increases to $1,500, he consumes 60 units of good A and 40 units of good B. Which of the following
statements is correct?
Both goods A and B are inferior goods
Both goods A and B are normal goods
Good A is a normal good, and good B is an inferior good
Good A is an inferior good, and good B is a normal good
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