Multiple Choice
If A is an inferior good and consumer income rises, the demand for A
A) decreases and the equilibrium price falls, but the equilibrium quantity increases.
B) increases and the equilibrium price rises, but the equilibrium quantity decreases.
C) decreases, and the equilibrium price and the equilibrium quantity decrease.
D) decreases, the equilibrium price rises, and the equilibrium quantity decreases.
E) increases, and the equilibrium price and the equilibrium quantity increase.
Correct Answer:

Verified
Correct Answer:
Verified
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