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Sarah spends her monthly entertainment budget on books and movies. Sarah's initial utility-maximizing combination of books and movies is five movies and two books a month. Assume the price of books falls. Sarah's new utility-maximizing combination of books and movies is five movies and four books. Given this information, can we say whether movies are a normal good?

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92756183

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