Top Ramen Is a Brand of Noodles That Is Widely

question 104

Multiple Choice

Top Ramen is a brand of noodles that is widely considered to be an inferior good with a high salt content.What would happen to the equilibrium price and equilibrium quantity of Top Ramen if income went up and the price of salt decreased?

• A) The equilibrium price will go up and equilibrium quantity will go up.
• B) The equilibrium price will go down and equilibrium quantity will be indeterminate.
• C) The equilibrium price will be indeterminate and equilibrium quantity will go up.
• D) The equilibrium price will go up and equilibrium quantity will be indeterminate.
• E) The equilibrium price will be indeterminate and equilibrium quantity will go down.

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Definitions:

Delays

Periods of time by which something is late or postponed.

Project Management

The discipline of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals and meet specific success criteria.

Contingencies

Events or conditions that might occur in the future and can affect the outcome of plans.

Collegiality

A cooperative relationship between colleagues, characterized by respect, empathy, and professionalism.