If Demand for Personal Computers Increases as a Result of an Increase

question 143

Multiple Choice

If demand for personal computers increases as a result of an increase in income,_____.

• A)personal computers must be a normal good
• B)personal computers must be an inferior good
• C)personal computers must be a complement
• D)the substitutes for personal computers must be inferior goods
• E)the complements for personal computers must be inferior goods

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Definitions:

Regulated Monopoly

A market structure where a single company is allowed to operate exclusively with governmental oversight and regulations to ensure consumer protection.

U.S. Postal Service

A federal agency that provides mail and parcel delivery services across the United States, operating as an independent entity of the federal government.

Pure Monopoly

A market structure where a single entity controls the entire supply of a product or service, with no close substitutes available.