1. Landon demands more sushi as his income increases. From this, we can conclude that sushi is a __________ (complementary/substitute/normal/inferior) good for Landon. 2. Arrow up or down: When the...


1. Landon demands more sushi as his income increases. From this, we can conclude that sushi is a __________ (complementary/substitute/normal/inferior) good for Landon.


2. Arrow up or down: When the price of apples goes up, the quantity of apples demanded will __________, ceteris paribus.


3. Between 2006 and 2009 the equilibrium price of pecans increased by roughly __________ (15, 50, 70) percent, a result of increased __________ (demand, supply) from China. (Related to Application 4 on page 106.)



May 20, 2022
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