--%>

Problem regarding Inferior Goods

Subsequent to Fred received a promotion and a big raise; he bought some macaroni and cheese dinners. For Fred, the: (1) Demand for the macaroni and cheese dinners is not predictable. (2) Macaroni and cheese dinners are the normal goods. (3) Demand for cheese and macaroni dinners is positively related to the income. (4) Demand for cheese and macaroni dinners is not price sensitive. (5) Macaroni and cheese dinners are the inferior goods.

   Related Questions in Microeconomics

  • Q : Estimate price cross-elasticities of

    When the prices rise of Comfort shoes rise through two percent, causing Wonder sock sales to fall through six percent, these goods are _____, and _____ is about the cross price elasticity of demand. (1) luxuries;  6. (2) necessities; 2. (3) subst

  • Q : Factors affecting the demand curve of

    Can someone help me in finding out the right answer from the given options. Among the factors influencing the demand curve for lime flavored Doritos is the: (i) Supply of lime-flavored Doritos. (ii) . Income of snack lovers. (iii) Production costs for the Doritos (iv)

  • Q : Buying on margin What does “ buying on

    What does “buying on margin” means?

  • Q : Determine points where is most price

    Of all of the known ranges on given supply curves, the supply of tanks of dehydrated water is most price elasticity among: (i) point a and point b. (ii) point b and point c. (iii) point c and point d. (iv) point d and point e. (v) point e and point f.

    Q : Problem regarding goals of Labor Union

    I have a problem in economics on goals of Labor Union. Please help me in the following question. Trade unions are reasonably supposed to try to maximize merely: (1) Wage rate. (2) Level of employment. (3) Total wage costs paid by the employers. (4) No

  • Q : Increase of utility when marginal

    Generally, as more of a good is consumed, the point is ultimately reached where the total: (1) And marginal utility of the good increase. (2) And marginal utility of good drop. (3) Utility carries on rising however marginal utility drops. (4) Utility drops and its mar

  • Q : Assumption of economic model-financial

    Most of the economic models suppose that the financial goal of a corporation is the maximization of the value of: (1) Firm’s net revenue. (2) Accounting gains to the firm. (3) Firm to its shareholders. (4) Progress of the sales revenues. (5) Monetary advantages

  • Q : Theory of imperfect competition An

    An extensive theory of imperfect competition was initially developed by: (1) John Maynard Keynes. (2) Antoine Augustin Cournot. (3) Joan Robinson. (4) Joseph Schumpeter. (5) Thorstein Veblen. How can I solve my

  • Q : Excess supply for commodity When do we

    When do we state that there is an excess supply for the commodity in market? Answer: If at a given price the quantity supplied of a product surpasses its quantity d

  • Q : Managerial Economics-Error of omission

    Can someone please help me in finding out the precise answer from the following question. The ‘error of omission’ takes place when: (1) Managers pursue policies which outcome in layoffs. (2) Corporations vend more stock than is really available. (3) Manage