A typical consumer consumes both coffee and donuts. After the consumer's income decreases, the consumer consumes more coffee but fewer donuts than before. For this consumer, coffee is a normal good, but donuts are an inferior good
a. True
b. False
Indicate whether the statement is true or false
False
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the Federal Reserve System
What will be an ideal response?
The supply of land is perfectly elastic.
Answer the following statement true (T) or false (F)
Refer to the tables. If South Cantina is producing at production alternative D, the opportunity cost of the third unit of capital goods will be:
Answer the question on the basis of the following production possibilities tables for two
countries, North Cantina and South Cantina:
A. 3 units of consumer goods.
B. 4 units of consumer goods.
C. 5 units of consumer goods.
D. 6 units of consumer goods.
Horizontal differentiation makes products better for some consumers and worse for others.
Answer the following statement true (T) or false (F)