1. A principles of microeconomics instructor regularly asks her class to give an example of an inferior...

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1. A principles of microeconomics instructor regularly asks her class to give an example of an inferior good. “No matter how poor we might be,” the students tell her, “ramen noodles are an inferior good.” Explain why the students must be wrong in their reasoning.

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Microeconomics

ISBN: 9780716759751

1st Edition

Authors: Austan Goolsbee, Steven Levitt, Chad Syverson

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