Suppose the Demand Curves for Goods A,B,and C Have the Following

question 87

Multiple Choice

Suppose the demand curves for goods A,B,and C have the following functional forms,where Q denotes quantity demanded,P denotes price,and M denotes income: QA = 120 - 3.5PA - 6PB + 14M QB = 100 - 2PB + 3PC + 1.1M QC = 1500 - 0.5PC - 300M.
Based on these demand curves,which of the following goods are known to be inferior goods?

• A)A
• B)B
• C)C
• D)A and B only
• E)A,B and C

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Definitions:

Injected

The act of forcing a liquid, especially a drug, into a body part by using a syringe and needle.

Muscle

Tissue composed of fibers that contract to produce movement or maintain the position of parts of the body.

Syringes

Medical tools used to inject fluids into, or withdraw fluids from, the body.

Calibrated

Adjusted or marked with measurements for use in accurate determination of quantities or comparisons.