Which of the following statements is about a normal good, which is about an inferior good, which is about both, and which is about neither? i with incomes falling in the recession, people are buying more chicken. ii people are buying more beef now that incomes have increased. iii people are buying more chicken because the price of chicken has fallen. iv with higher incomes people are switching from chicken to beef.
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Which of the following statements is about a normal good, which is about an inferior good, which is...
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