If a good is an inferior good, then an increase in its price will increase the demand for it.

Name: If a good is an inferior good, then an increase in its price will increase the demand for it.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

If a good is an inferior good, it means that as the consumer's income increases, the demand for that good decreases. Therefore, if the price of an inferior good increases, it would further decrease the demand for it.

If a Good Is an Inferior Good, Then an Increase