Is beer a normal or inferior good

Reference no: EM132177043

Question: 1. If a decrease in the price of laptops causes the demand for cell phones to increase, are laptops and cell phones substitutes or complements?

2. If rising incomes cause the demand for beer to decrease, is beer a normal or inferior good?

The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132177043

Questions Cloud

What is the relationship between supply and demand : What is the relationship between supply and demand when a market is in equilibrium? Explain how the incentives facing cell phone companies and consumers cause.

Performance of the output of goods and services : Can you Provide a brief description of the general performance of the output of goods and services produced in the United States during periods of recessions.

Explain what will happen to the demand and supply of phones : Suppose an economic boom drives up wages for the sales representatives who work for cell phone companies. Explain what will happen to the demand and supply.

Explain what will happen to the demand for : Suppose an economic boom causes incomes to increase and at the same time drives up wages for the sales representatives who work for cell phone companies.

Is beer a normal or inferior good : If a decrease in the price of laptops causes the demand for cell phones to increase, are laptops and cell phones substitutes or complements?

What do you think is amazon com competitive strategy : Based on the facts presented in this case, what do you think is Amazon.com’s competitive strategy? Justify your answer.

Share of national income : Why did the domestic/professional service's share of national income decrease during Industrial Revolution?

Porter four competitive strategies does apple engage : Which of Porter’s four competitive strategies does Apple engage in? Explain.

What are the potential risks to the organization : How do your solutions address the specific organizational problems that you have identified, and how do they address the key stakeholder concerns?

User Account

All Pages