A great economist once argued that a poor community would likely not distinguish quality grades of a commodity like beef, whereas a rich community would. Construct indifference curves for low- and high-quality beef at both low and high levels of income. Why should

Will an increase in the price of a complementary good outwardly shift the demand curve?

The figure below illustrates 3 indifference curves and two budget lines for a student whose budget for online gaming is $10/week. The red line illustrates this student's original budget line. After thanksgiving prices change, the blue (dash-dot) line illustrates the student's new (post-price change) budget line. a) What were the original hourly prices of FortDay and PokemonStop? What are the new prices?   b) What is the students optimal bundle at the original prices? How about at the new prices?

Suppose that after your income increases, you consume less fast food. This means:     Fast food is considered an inferior good.      Coke and Pepsi are substitutes.      Coke and fried chicken are complements.      None of the above.