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After getting a raise at work, Jennie now regularly buys steak instead of hamburger. Based on this behavior, we can assume: Multiple Choice steak is a normal good, and hamburger is an inferior good for Jennie. steak is an inferior good, and hamburger is a normal good for Jennie. steak and hamburger are complementary goods for Jennie. steak and hamburger are normal goods for Jennie.

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5 votes

Answer:

Steak is a normal good, and hamburger is an inferior good for Jennie

Step-by-step explanation:

Based on this behavior, we can assume steak is a normal good, and hamburger is an inferior good for Jennie. That is because a normal good is any good who's demand increases when there is a rise in the consumers' income, while an inferior good sees decreased demand due to a rise in income. Therefore, since Jenna buys more (increased demand) steak and less (decreased demand) hamburger due to her increased income this means that steak is a normal good, and hamburger is an inferior good for Jennie

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