When Ryan Has an Income of $2,000, He Consumes 30

question 287

Multiple Choice

When Ryan has an income of $2,000, he consumes 30 units of good A and 50 units of good B. After Ryan's income decreases to $1,500, he consumes 23 units of good A and 55 units of good B. Which of the following statements is correct?

• A)Both goods A and B are normal goods.
• B)Both goods A and B are inferior goods.
• C)Good A is a normal good, and good B is an inferior good.
• D)Good A is an inferior good, and good B is a normal good.

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Definitions:

Intimacy

A close and personal relationship or bond between individuals, often characterized by affection and trust.

Self-Actualization

The realization or fulfilment of one's talents and potentialities, considered as a drive or need present in everyone.

High Self-Esteem

The positive assessment of one's own worth, abilities, and value, often leading to confidence and satisfaction in oneself.

Self-Actualization

The act of fulfilling or realizing personal skills and potential, regarded as a fundamental need or urge within every individual.