When the Price of a Product Rises for an Inferior

Multiple Choice

When the price of a product rises for an inferior good, the

A) income and substitution effects will encourage consumers to purchase more of the product.
B) income and substitution effects will encourage consumers to purchase less of the product.
C) substitution effect will encourage consumers to purchase less of the product, but the income effect will encourage them to purchase more.
D) substitution effect will encourage consumers to purchase more of the product, but the income effect will encourage them to purchase less.