In the above figure, as Brendan's income falls his consumption bundle moves from point A to point E. This implies that for Brendan, compact discs are good and haircuts are good

A) a normal; an inferior
B) a normal; a normal
C) an inferior; an inferior
D) an inferior; a normal

Economics

Do competitive markets use resources efficiently? Explain why or why not

What will be an ideal response?

View

Economics

During the colonial period there were no apparent economies of large-scale production in:

a. rice. b. wheat. c. tobacco. d. indigo.

View

Economics

In the above figure, as Brendan's income falls his consumption bundle moves from point A to point E. This implies that for Brendan, compact discs are ________ good and haircuts are ________ good