Solved: If an increase in income leads to a decrease in demand, the good is a. a

Chapter 0, Problem 3

(choose chapter or problem)

Get Unlimited Answers
QUESTION:

If an increase in income leads to a decrease in demand, the good is a. a complement. b. a substitute. c. inferior. d. abnormal. e. normal.

Questions & Answers

QUESTION:

If an increase in income leads to a decrease in demand, the good is a. a complement. b. a substitute. c. inferior. d. abnormal. e. normal.

ANSWER:

Step 1 of 2

Inferior goods exhibit the potential of satisfying people’s needs and wants when their income levels drop.

Add to cart


Study Tools You Might Need

Not The Solution You Need? Search for Your Answer Here:

×

Login

Login or Sign up for access to all of our study tools and educational content!

Forgot password?
Register Now

×

Register

Sign up for access to all content on our site!

Or login if you already have an account

×

Reset password

If you have an active account we’ll send you an e-mail for password recovery

Or login if you have your password back