Answer to Question #176591 in Microeconomics for Zohaib

Question #176591

Demand for an inferior good is negative related to income or not

Expert's answer

The demand for inferior good is decreasing following the rise in consumer income.

Learn more about our help with Assignments: Microeconomics

Comments

No comments. Be the first!

Leave a comment

Related Questions

1. A consumer buys only two goods, X and Y. No other goods exist and there is no possibility of saving.
2. “Florida orange growers” advertise as a group, but individual orange growers do not. What does t
3. Supermarket checkout lines all tend to be roughly the same length. Why is that? Explain your answer
4. Say whether the following statement makes Good Economic Sense, is Complete Economic Nonsense, or is
5. draw a cost and revenue diagram to show the likely impact of reduction in sales
6. Harold and Maude both love Russell Stover Maple Creme Chocolate Covered Eggs. The both go into Walgr
7. Explain show the effects on equilibrium price and quantity of AC in winter season?