Business, 25.02.2020 04:32, angelrenee2000

Over time, some goods change from being a normal good to an inferior good, or from being an inferior good to a normal good. One example is a CRT television, also known as a tube television. In the 1980s, households with more income usually purchased CRT TVs. Today, more CRT TVs are purchased by households with less income. What has happened to CRT TVs? Choose one:A. CRT TVs have become obsolete. B. A CRT TV has become an inferior good because people buy more of this type of TV when they have lower incomes. C. A CRT TV has become a normal good because buyers now believe it to be of a lower quality than other types of TV. D. A CRT TV has become an inferior good because as consumers gain more purchasing power, they purchase more of the product.

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Over time, some goods change from being a normal good to an inferior good, or from being an inferior...