CFA Practice Question

There are 539 practice questions for this study session.

CFA Practice Question

The following figure shows Larry's indifference map and budget lines for ham and pork. Which of the following statements is TRUE?

A. Pork is an inferior good.
B. Ham is an inferior good.
C. Neither pork nor ham is an inferior good.
Explanation: As income grows, the consumption of ham actually drops.

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