Solved

The Difference Between Normal and Inferior Goods Is That

Question 106

Multiple Choice

The difference between normal and inferior goods is that


A) an increase in price will shift the demand curve for a normal good rightward and the demand curve for an inferior good leftward.
B) if the price of a normal good increases, individuals who buy it are poorer; for inferior goods, the opposite is true.
C) an inferior good is something that will not be demanded until quantities of the normal good have been exhausted.
D) an increase in income will shift the demand curve for a normal good rightward and the demand curve for an inferior good leftward.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents