$\text {Table 1}$
$\text {The following information is provided for Tony Romo's income and expenditures.}$

$$\begin{array}{l}
\underline{\text { Quantity Purchased per Month }}\
\begin{array}{ccc}
\underline{\text { Monthly Income }} & \underline{\text { Steaks }}&\underline{ \text { Pizzas } }\
\$ 2,000 & 2 & 8 \
\$ 3,000 & 4 & 6
\end{array}
\end{array}$$
-In Table 1,steaks are classified as a(n)
A)normal good.
B)positive good.
C)inferior good.
D)marginal good.

Question

$\text {Table 1}$
$\text {The following information is provided for Tony Romo's income and expenditures.}$

$$\begin{array}{l}
\underline{\text { Quantity Purchased per Month }}\
\begin{array}{ccc}
\underline{\text { Monthly Income }} & \underline{\text { Steaks }}&\underline{ \text { Pizzas } }\
\$ 2,000 & 2 & 8 \
\$ 3,000 & 4 & 6
\end{array}
\end{array}$$
-In Table 1,steaks are classified as a(n)
A)normal good.
B)positive good.
C)inferior good.
D)marginal good.

Quizplus · Accepted Answer

As Tony Romo's income increases from $2,000 to $3,000, he purchases more steaks (from 2 to 4), indicating that steaks are a normal good because consumption increases with an increase in income.

Table 1\text {Table 1}Table 1 The following information is provided for Tony Romo’s income and expenditures.\text {The following information is provided for Tony Romo's income and expenditures.}The following information is provided for Tony Romo’s income and expenditures.

$\text {Table 1}$ $\text {The following information is provided for Tony Romo's income and expenditures.}$