Multiple Choice
A good is inferior for a consumer if
A) it is never included in his or her consumption bundle.
B) its consumption rises when income rises.
C) its consumption falls when income rises.
D) some minimal level of the good must be consumed to assure the consumer's survival.
E) the assumption of "more is always preferred to less" holds.
Correct Answer:
Verified
Correct Answer:
Verified
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