Suppose that frozen dinners were once a normal good for John, but now frozen dinners are an inferior good for him. John's demand curve for frozen dinners
A) has become steeper as a result.
B) has become flatter as a result.
C) has not changed as a result.
D) has disappeared as a result.
A
Economics
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The elasticity of demand for a normal good: a. is often higher in the short run than in the long run. b. is often lower in the short run than in the long run. c. is the same in the short run as in the long run
d. is zero in the short run and infinite in the long run.
Economics
The short-term interest rate is determined in the:
A. stock market. B. money market. C. loanable funds market. D. exchange rate market.
Economics