If Macaroni and Cheese Is an Inferior Good,what Would Happen

question 113

Multiple Choice

If macaroni and cheese is an inferior good,what would happen to the equilibrium price and quantity of macaroni and cheese if consumers' incomes rise?

• A)Both the equilibrium price and quantity would increase.
• B)Both the equilibrium price and quantity would decrease.
• C)The equilibrium price would increase,and the equilibrium quantity would decrease.
• D)The equilibrium price would decrease,and the equilibrium quantity would increase.

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Definitions:

Contribution Format

An income statement format that separates fixed and variable costs, highlighting the contribution margin.

East Segment

A division or geographical area of a business focused on the eastern region, often used in reporting or segmenting operations.

Segment Margin

The profit generated by a particular segment of a business, after deducting direct and allocated expenses specific to the segment.

Segmented Income Statement

A financial statement that breaks down revenues, costs, and profits for different parts of an organization, such as departments or product lines.