After graduation from college you will receive a substantial increase in your income from a new job.If you decide that you will purchase more T-bone steak and less hamburger, then for you hamburger would be considered a(n):

Question

Quizplus · Accepted Answer

Hamburger is considered an inferior good in this scenario because as your income increases, you decide to buy less of it, opting for a more expensive alternative (T-bone steak) instead. Inferior goods are those for which demand decreases as income increases.

After Graduation from College You Will Receive a Substantial Increase