Multiple Choice
Under what circumstances is the demand curve upward-sloping?
A) When the good is a normal good.
B) When the good is an inferior good and the substitution effect outweighs the income effect.
C) When the good is an inferior good and the income effect outweighs the substitution effect.
D) The demand curve can never be upward-sloping.
Correct Answer:
Verified
Correct Answer:
Verified
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