Posted: January 12th, 2016
Are Malaysian Airlines tickets normal (or luxury), or inferior goods? Use a graph to show the substitution and income effects of a decrease in the price of Malaysian Airlines ticket.
Read the article “MH370 deep in minds of Australians, Malaysia Airlines CEO Christoph Mueller says” and discuss the consumer choice of airlines. Are Malaysian Airlines tickets normal (or luxury), or inferior goods? Use a graph to show the substitution and income effects of a decrease in the price of Malaysian Airlines ticket.
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