If an Increase in the Incomes of People Who Live

question 92

Multiple Choice

If an increase in the incomes of people who live in the Los Angeles area leads to an increase in the demand for season tickets for games played by the Los Angeles Lakers professional basketball team, then these season tickets are

• A) a normal good.
• B) an inferior good.
• C) an income complement.
• D) an income substitute.

---

Definitions:

Design Specifications

Detailed descriptions of materials, dimensions, and processes used in the construction of a product.

P-chart

A type of control chart used for monitoring the proportion of defective items in a process over time.

Control Limits

Boundaries in statistical process control that indicate the thresholds for when a process is in or out of control.

Process Capability Index

A statistical measure that quantifies how well a process can produce output within given specification limits.