Homework Answers
Answer)
In this case, vehicles are a normal good.
Normal goods are those goods whose demand increases as there is an increase in the income of individuals. In other words, there is a positive relationship between the income and demand for the good.
As we can see in the diagram that, the curves are upwards sloping meaning that as the income increases, the ownership of vehicles also increases which happens in the case of normal goods.
If the vehicles would be an inferior good, the demand for vehicles would decrease with the increase in income as shown in the below diagram.
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further into the possibility of marketing to the BOP segment. The
ultimate goal of this meeting will be to establish a set of general
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perspective, Unocal did the right thing in deciding to invest in
the pipeline and then in conducting the project as it did. In your
view, and using your utilitarian, rights, justice and caring
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