Multiple Choice
Which of the following statements best describes an inferior good?
A) An inferior good is a good whose quantity supplied always exceeds its quantity demanded.
B) An inferior good is a good whose demand decreases with an increase in consumers' income.
C) An inferior good is a good that is sold at a subsidized price.
D) An inferior good is a good that is rationed by the government.
Correct Answer:
Verified
Correct Answer:
Verified
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