Corey receives some utility from consuming a frozen dinner (an inferior good) but would much rather purchase healthier food (a normal good). Suppose the price of a frozen dinner increases and the quantity that Corey purchases increases. Assume that a frozen dinner is not a Giffen good. Which effect causes Corey's quantity demanded of a frozen dinner to increase?
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Home » Business » Corey receives some utility from consuming a frozen dinner (an inferior good) but would much rather purchase healthier food (a normal good). Suppose the price of a frozen dinner increases and the quantity that Corey purchases increases.