menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Managerial Economics Study Set 1
  4. Exam
    Exam 7: Understanding Markets and Industry Changes
  5. Question
    ​An Increase in Income Causes the Demand for Inferior Goods
Solved

​An Increase in Income Causes the Demand for Inferior Goods

Question 73

Question 73

Multiple Choice

​An increase in income causes the demand for inferior goods to_____________ and the price of inferior goods to ____________.


A) ​Increase;increase
B) Increase;decrease
C) Decrease;increase
D) ​Decrease,decrease

Correct Answer:

verifed

Verified

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

Related Questions

Q68: Firm X owns both tea and coffee

Q69: ​You lose your job and as a

Q70: How does an increase in the price

Q71: ​Peter's Pizzeria sells both pizzas and wings.It

Q72: A market maker faces the following demand

Q74: ​Which of the following statements is true<br>A)​a

Q75: ​An increase in demand could arise from

Q76: ​An increase in demand could arise from

Q77: Peter's Pizzeria sells both pizzas and wings.It

Q78: ​For a wheat farmer,the following factor(s)are uncontrollable<br>A)​Quality

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines