Consider a two-good world, with commodities X and Y. Which of the following statements is correct?
A. Both good X and good Y can be inferior goods.
B. If good X is an inferior good, good Y must be a normal good.
C. Both X and Y must be normal goods.
D. If good X is a normal good, good Y must be an inferior good.
Answer: B
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A. (1) B. (2) C. (3) D. (4)
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What will be an ideal response?
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What will be an ideal response?