Solution Found!
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)
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.