Figure 4.6
-Figure 4.6 illustrates a set of supply and demand curves for a product.If the good were inferior and the consumer's income decreases,then this can be illustrated as moving from point

Question

Quizplus · Accepted Answer

For an inferior good, a decrease in consumer income leads to an increase in demand. This is represented by a rightward shift of the demand curve, moving from point C to B.

Figure 4.6 -Figure 4.6 Illustrates a Set of Supply and Demand Curves