[Answered] If the demand of a good is inversely related to income, it must be A) a bad good. B) an inferior ...

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Author Question: If the demand of a good is inversely related to income, it must be A) a bad good. B) an inferior ... (Read 88 times)

Chelseaamend

Hero Member
Posts: 545

on: Jun 29, 2018

If the demand of a good is inversely related to income, it must be

A) a bad good.
B) an inferior good.
C) a normal good.
D) an everyday product.

Question 2

The assumption that individuals do NOT intentionally make decisions that would leave them worse off is referred to as

A) the premium assumption.
B) the law of comparative advantage.
C) the rationality assumption.
D) the law of demand.

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skipfourms123

Sr. Member
Posts: 343

Reply #1 on: Jun 29, 2018

Answer to Question 1

B

Answer to Question 2

C

Chelseaamend

Hero Member
Posts: 545

Reply #2 on: Jun 29, 2018

Thank you

skipfourms123

Sr. Member
Posts: 343

Reply #3 on: Jun 29, 2018

No problemo

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Author Question: If the demand of a good is inversely related to income, it must be A) a bad good. B) an inferior ... (Read 88 times)

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