Something is an inferior good if the demand for the good a) decreases as the price of a substitute increases. Ob) decreases as the consumer's income decreases. Oc) increases as the consumer's income increases. O d) decreases as the price of a complement increases. Oe) increases as the consumer's income decreases.

Something is an inferior good if the demand for the good a) decreases as the price of a substitute increases. Ob) decreases as the consumer's income decreases. Oc) increases as the consumer's income increases. O d) decreases as the price of a complement increases. Oe) increases as the consumer's income decreases.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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