As John's income has increased, he has purchased less instant noodles. Instant noodles are

A. an inferior good for John.
B. not following the law of demand.
C. not scarce for John.
D. a normal good for John.


Answer: A

Economics

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A) The manager has less of an incentive to integrate forward. B) The manager has less of an incentive to integrate backward. C) The manager has more of an incentive to integrate backward. D) The manager has more of an incentive to integrate forward.

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In the short run, if a firm's total product is increasing: a. its marginal product must be increasing

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Economics

Which model is used to evaluate the effects of macroeconomic policy such as tax cuts?

A. Aggregate demand and aggregate supply B. Demand and supply C. Game theory D. Circular flow.

Economics

Because there are many sellers in a competitive market, individual firms are unable to maximize profits

a. True b. False Indicate whether the statement is true or false

Economics