Suppose that when the price of hamburgers decreases, the Ruiz family increases their purchases of ketchup. To the Ruiz family
A) hamburgers and ketchup and substitutes.
B) hamburgers and ketchup are normal goods.
C) hamburgers are normal goods and ketchup is an inferior good.
D) hamburgers and ketchup are complements.
D
Economics
You might also like to view...
The assumption that given the strategy chosen by the other participant, a player will always choose the strategy that brings him or her the best payoff is called
A) strategic interaction. B) economic self interest. C) the rationality assumption. D) the profit-maximizing assumption.
Economics
In an economy, 23 million people are employed and 2 million are unemployed, but 5 million part-time workers would prefer full-time work. What is the unemployment rate?
A) 23.2 percent B) 6.7 percent C) 8 percent D) 25 percent
Economics