Morgan Graduates from College and Gets a Job Paying $50,000

question 32

Multiple Choice

Morgan graduates from college and gets a job paying $50,000 a year. While in school, she consumed 4 pounds of chicken and 1 pound of shrimp a month. After she starts work, she consumes 2 pounds of chicken and 3 pounds of shrimp a month. If everything else is held constant, we know that

• A)chicken and shrimp are normal goods for Morgan.
• B)chicken is an inferior good and shrimp is a normal good for Morgan.
• C)chicken is an inferior good for Morgan.
• D)shrimp is a normal good for Morgan.

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Definitions:

Carbon Emissions

The release of carbon dioxide into the atmosphere, primarily from burning fossil fuels, contributing to global climate change.

Pollution Reduction

The process of decreasing the amount of pollutants released into the environment by implementing cleaner practices or technologies.

Government Caps

Regulatory measures that set a maximum limit on prices or rates for goods and services, often aimed at protecting consumers.

Total Cost

The sum of fixed and variable costs incurred by a firm in producing a certain level of output.