Assume generic goods are inferior goods. A decrease in consumer income (ceteris paribus) will cause the demand for generic goods to, and the equilibrium price of generic goods will Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. b с increase; increase increase; decrease decrease; decrease d decrease; increase
Assume generic goods are inferior goods. A decrease in consumer income (ceteris paribus) will cause the demand for generic goods to, and the equilibrium price of generic goods will Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. b с increase; increase increase; decrease decrease; decrease d decrease; increase
Chapter1: Making Economics Decisions
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
Transcribed Image Text:Assume generic goods are inferior goods. A decrease in consumer income (ceteris paribus) will cause the demand for generic
goods to, and the equilibrium price of generic goods will
Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer.
a increase; increase
b
C
d
increase; decrease
decrease; decrease
decrease; increase
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