37. If commodity Mis an inferior good, which of the following must be true? a. The demandcurve for commodity M is horizontál b. An increase in the price of commodity M will decrease the supply of commodity M An increase in consumer income will decrease the demand for commodity M d. A decrease in conšumer 'încome will decrease the supply of commodity M.

37. If commodity Mis an inferior good, which of the following must be true? a. The demandcurve for commodity M is horizontál b. An increase in the price of commodity M will decrease the supply of commodity M An increase in consumer income will decrease the demand for commodity M d. A decrease in conšumer 'încome will decrease the supply of commodity M.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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