As a result of losing his job, Uncle Roy dropped his cable TV service and instead bought a new iPod. For Uncle Roy,
A) cable is an inferior good and the iPod is a normal good.
B) cable is a normal good and the iPod is an inferior good.
C) both cable and the iPod are normal goods.
D) both cable and the iPod are inferior goods.
E) cable and the iPod are complementary goods.
B
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Which of the following firms operates in a natural monopoly?
a. Telephone company. b. Electric company. c. Water company. d. All of these.
If you invest $2,500 in a mutual fund with a 5 percent front-end load, _____
a. $50 will be used to pay for the sales charge and $2,000 will be invested in the fund b. there will be no sales charge and the entire $2,500 will be invested in the fund c. the fees for the fund manager will be paid only after a period of 20 years d. $125 will be paid to the fund manager and $2,375 will be invested in the fund e. a fixed amount of $250 will be paid to the fund manager every year