Mario consumes only cheese and crackers. a. Could cheese and crackers both be inferior goods for Mario?
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a. Could cheese and crackers both be inferior goods for Mario? Explain.
b. Suppose that cheese is a normal good for Mario while crackers are an inferior good. If the price of cheese falls, what happens to Mario’s consumption of crackers? What happens to his consumption of cheese? Explain.
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a Cheese and crackers cannot both be inferior goods because if Marios income rises he mu...View the full answer
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