12
answers
0
watching
516
views
15 Jan 2018
21. When the economy suffers a downturn and the incomes of many people decrease, vacationers are more likely to take car trips than to fly. Which of the following provides one possible explanation for this phenomenon? A) Air travel and vacation travel by car are complementary goods. B) Air travel and vacation travel by car are both normal goods. C) Air travel is a normal good and vacation travel by car is an inferior good. D) Air travel is an inferior good and vacation travel by car is a normal good. Use the following to answer questions 22-24. Figure: Demand for DVDs Rental Rental price price DVDs DVDs 0 Quantity (per period) 0 Quantity (per period) Rental price Rental price of DVDs of DVDs 0 Quantity (per period) 0 Quantity (per period)
21. When the economy suffers a downturn and the incomes of many people decrease, vacationers are more likely to take car trips than to fly. Which of the following provides one possible explanation for this phenomenon? A) Air travel and vacation travel by car are complementary goods. B) Air travel and vacation travel by car are both normal goods. C) Air travel is a normal good and vacation travel by car is an inferior good. D) Air travel is an inferior good and vacation travel by car is a normal good. Use the following to answer questions 22-24. Figure: Demand for DVDs Rental Rental price price DVDs DVDs 0 Quantity (per period) 0 Quantity (per period) Rental price Rental price of DVDs of DVDs 0 Quantity (per period) 0 Quantity (per period)
12
answers
0
watching
516
views
For unlimited access to Homework Help, a Homework+ subscription is required.
akunuru639Lv10
14 May 2023
Already have an account? Log in
larryrambo777Lv10
11 Mar 2023
Already have an account? Log in
experttutorLv10
8 Dec 2022
Already have an account? Log in
glorysoft2Lv10
28 Sep 2022
Already have an account? Log in
Lelia LubowitzLv2
16 Jan 2018
Already have an account? Log in