When Sam Has an Income of $1,000,he Consumes 30 Units

question 41

Multiple Choice

When Sam has an income of $1,000,he consumes 30 units of good A and 50 units of good B.After Sam's income increases to $1,500,he consumes 60 units of good A and 45 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.

Predict the outcomes of reactions involving alcohols and their transformation into different organic compounds.

Recognize and apply the principles of esterification and ether synthesis.

Differentiate between energy materials based on their chemical structures and reactions.

Explain the formation and identification of inorganic esters.

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Definitions:

Quantity Supplied

the amount of a good or service that producers are willing and able to sell at a given price over a specific period.

Quantity Demanded

The aggregate sum of a product or service that buyers are prepared to buy at a determined price point, at a certain moment.

Surplus

The situation in which the quantity of goods produced exceeds the quantity demanded, often leading to a drop in prices.

Supply Increases

Refers to a situation where the quantity of a good or service that producers are willing and able to sell at a given price level rises, often leading to a decrease in prices if demand remains constant.