From the following examples select all those statements that are true.
- Hair stylist Molly loses a few of her clients. Molly cuts back on the number of smoothies she buys during the week. Smoothies are an inferior good.
- Professor Jones is an oceanographer. She finds that college students eat less sushi when their incomes rise. Sushi is an inferior good.
- Susan gets a 15 percent performance bonus at work. She can finally stop eating so many frozen pizzas and eat something more tasty. Frozen pizzas are an inferior good.
- Joe's dad increases his weekly allowance by $20. As a result, Joe increases the number of apps he downloads on his smartphone.Smartphone apps in this case are an inferior good.
- Mike is an appliance salesman. Refrigerator sales in his store have fallen and so has his commission. Mike decides to switch from name brand cereal to generic cereal. Generic cereal in this context is an inferior good.
I need to know which of all these statements are true.
The correct... View the full answer