What's a normal good to me might be
A) a normal good to you.
B) an inferior good to you.
C) a bad to you.
D) any of the above to you.
D
Economics
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In the above figure, what is the amount of consumer surplus at the efficient quantity?
A) $0 B) $1,000 C) $2,000 D) $4,000
Economics
In perfect competition, an economic profit can be earned
a. only in the long run b. only if the firm is efficient c. only in the short run d. never e. always
Economics
With modern sector enrichment growth, inequality will
a. first rise and then fall. b. first fall and then rise. c. remain about the same. d. None of the above.
Economics
Suppose a consumer is willing to pay $20 for one unit of good X, $10 for a second, and $5 for a third, and the market price is $4. The consumer surplus is:
A. $16. B. $6. C. $1. D. $23.
Economics