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Dennis makes $200 and spends all his income on smoothies and sandwiches. Smoothies cost $5 each, and Dennis buys 20 smoothies each week. Sandwiches cost
Dennis makes $200 and spends all his income on smoothies and sandwiches. Smoothies cost $5 each, and Dennis buys 20 smoothies each week. Sandwiches cost $10 each, and Dennis buys 10 sandwiches each week. When Dennis's income falls to $150, he cuts his consumption of smoothies by 2 smoothies and cuts his consumption of sandwiches by 4 sandwiches. Based on these figures, for Dennis, Question 10 options: smoothies are a luxury good, and sandwiches are a necessity good. smoothies and sandwiches are both necessity goods. smoothies are a necessity good, and sandwiches are a luxury good. smoothies and sandwiches are both luxury goods
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