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Author Question: By definition, an inferior good is a A) want that is not expressed by demand. B) normal ... (Read 39 times)

frankwu

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on: Jun 29, 2018
By definition, an inferior good is a
 
  A) want that is not expressed by demand.
  B) normal substitute good.
  C) good for which demand decreases when its price rises.
  D) good for which demand decreases when income increases.

Question 2

Misty has the option of purchasing one of three products: Brand A, Brand B, or Brand C. Each costs ten dollars. If she decides that Brand A meets her needs best, then the opportunity cost of this decision is
 
  A) Brand B plus Brand C.
  B) twenty dollars.
  C) Brand A.
  D) Brand B or Brand C, depending on which is considered the highest-value alternative forgone.


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triiciiaa

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

D


frankwu

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Reply #2 on: Jun 29, 2018
Thank you :)


triiciiaa

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Reply #3 on: Jun 29, 2018
Happy to help you


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