margarine is     a. an inferior good.   b. a negative good.   c. a normal good   d. a necessary good.   e. quite price-elastic.

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter16: Information, Risk, And Insurance
Section: Chapter Questions
Problem 18RQ: What are some of the metrics economists use to measure health outcomes?
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Question

In Figure 5-2, margarine is

 

  a.

an inferior good.

  b.

a negative good.

  c.

a normal good

  d.

a necessary good.

  e.

quite price-elastic.

Figure 5-2
Quantity Purchased
Coffee
Income
$25,000
$50,000
Automobiles
Margarine
2
10
8
3
N3
Transcribed Image Text:Figure 5-2 Quantity Purchased Coffee Income $25,000 $50,000 Automobiles Margarine 2 10 8 3 N3
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