The relationship between a consumer's monthly income and monthly consumption of four products, A-D, is shown in thefollowing table.Income$ 5,0006,000A7064Quantity ConsumedB3542C1016D2012Which product(s) listed is(are) an example of an normal good?

For a normal good, the income effect is constant. Which means that as consumer income increase,…

The relationship between a consumer's monthly income and monthly consumption of four products, A-D, is shown in the following table A 70 64 Quantity Consumed B с 35 10 42 16 Income $5,000 6,000 Which product(s) listed is(are) an example of an normal good? D 20 12

The relationship between a consumer's monthly income and monthly consumption of four products, A-D, is shown in the following table A 70 64 Quantity Consumed B с 35 10 42 16 Income $5,000 6,000 Which product(s) listed is(are) an example of an normal good? D 20 12

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Consumer Choice Theory

Section: Chapter Questions

Problem 5SQP

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Question

The relationship between a consumer's monthly income and monthly consumption of four products, A-D, is shown in the
following table.
Income
$ 5,000
6,000
A
70
64
Quantity Consumed
B
35
42
C
10
16
D
20
12
Which product(s) listed is(are) an example of an normal good?

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