Solved

A Typewriter Is an Inferior Good

Question 122

Multiple Choice

A typewriter is an inferior good. As people's incomes increase and other things remain the same, you predict that the


A) price of a typewriter will fall.
B) price of a typewriter will fall and the demand for typewriters will increase.
C) demand for typewriters will decrease and the price will rise.
D) demand for typewriters will increase as the price of a typewriter falls.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q117: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5270/.jpg" alt=" -In mid- 2008

Q118: C <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5270/.jpg" alt="C -The

Q119: A fall in the price of wheat

Q120: Producers of Walkmans will be able to

Q121: An increase in the demand for computers

Q124: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5270/.jpg" alt=" -The above figures

Q125: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5270/.jpg" alt=" -In the figure

Q126: People come to expect that the price

Q127: Pizza and hamburgers are substitutes for consumers.

Q448: Explain the difference between a change in