Multiple Choice
Good X is an inferior good if a decrease in income leads to:
A) an increase in the supply of good X.
B) a decrease in the supply of good X.
C) an increase in the demand for good X.
D) a decrease in the demand for good X.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q58: In a competitive market,the market demand is
Q59: If demand increases,then the:<br>A) demand curve shifts
Q60: All else held constant,as additional firms enter
Q61: The seller side of the market is
Q62: In a competitive market,the market demand is
Q64: Other things held constant,the greater the price
Q65: A floor price is:<br>A) the minimum legal
Q66: Suppose the demand for X is given
Q67: Suppose the market demand for good X
Q68: Good Y is a complement to good