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The average 15- year- old purchases 12 CDs and 15 cheese pizzas in a typical year

The average 15- year- old purchases 12 CDs and 15 cheese pizzas in a typical year. If cheese pizzas are inferior goods, would the average 15- year- old be indifferent between receiving a $ 30 gift certificate at a local music store and $ 30 in cash? Explain.
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Answer #1
yes since pizza is a inferior good
answered by: afsana
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Answer #2
Yes. Since pizza is an inferior good, if the consumer is given $30 in cash she will definitely spend it entirely on CDs – just as she would if given a $30 gift certificate at a local music store.
answered by: afsana
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