If an increase in the incomes of people who live in the Los Angeles area leads to an increase in the demand for season tickets for games played by the Los Angeles Lakers professional basketball team, then these season tickets are
A) a normal good.
B) an inferior good.
C) an income complement.
D) an income substitute.

Question

Quizplus · Accepted Answer

A normal good is a good for which demand increases as income increases. In this case, as the incomes of people in the Los Angeles area increase, their demand for season tickets for the Los Angeles Lakers increases, indicating that these tickets are a normal good.

If an Increase in the Incomes of People Who Live