Multiple Choice
Jim recently graduated from college.His income increased dramatically;from$5000 a year to $60,000 a year.Jim decided that instead of using the bus,he would buy himself a car.This implies that
A) The car is a normal good for Jim
B) The car is an inferior good for Jim
C) He is equally happy between using the bus and buying a car
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
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