Author Question: If your income goes up by 2 and, in response, the quantity demanded of good x falls by 3, the good x ... (Read 69 times)

tnt_battle · **on:** Jul 1, 2018

If your income goes up by 2 and, in response, the quantity demanded of good x falls by 3, the good x can be considered
a. An inferior good
b. A normal good
c. A public good
d. A private good

Question 2

According to the profit-maximization goal, the firm should attempt to maximize short-run profits since there is too much uncertainty associated with long-run profits.
a. true
b. false