Economics Past Questions and Answers

If less of a good is bought as one's income increases, such a good is ____________

The demand for coffee and tea is _____________

Two commodities X and Y are in joint supply when _____________

Table 1

Units of quantity consumed	Total utility	Marginal utility
0	-	-
1	10	10
2	15	5
3	17	2
4	18	1
5	18	0

The table above illustrates the law of?

When the price of a good is above the equilibrium, there will be _____________