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.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3bf2b7af-bf1d-4afd-914a-74ed8a841dd9%2Fa27ebbf7-ac42-468f-b00f-83adfd972f6d%2F012b7zk.jpeg&w=3840&q=75)
Transcribed Image Text: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.
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