There is an increase in both consumer income and in the price of jet fuel, an im
ID: 1101394 • Letter: T
Question
There is an increase in both consumer income and in the price of jet fuel, an important resource used to produce air travel. If air travel is a normal good, how will these changes influence the price and quantity purchased of air travel? The price of air travel will (be) ____ and quantity purchased will (be) ____.
(A) indeterminate; decrease
(B) increase; indeterminate
decrease; indeterminate
indeterminate; increase
(A) indeterminate; decrease
(B) increase; indeterminate
(C)decrease; indeterminate
(D)indeterminate; increase
Explanation / Answer
There is an increase in both consumer income and in the price of jet fuel, an important resource used to produce air travel. If air travel is a normal good, how will these changes influence the price and quantity purchased of air travel? The price of air travel will (be) increase____ and quantity purchased will (be) indeterminate____.
Related Questions
drjack9650@gmail.com
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.