Multiple Choice
If macaroni and cheese is an inferior good, then a decrease in income results in
A) a decrease in the demand for macaroni and cheese.
B) a decrease in the supply of macaroni and cheese.
C) an increase in the demand for macaroni and cheese.
D) an increase in the supply of macaroni and cheese.
E) Both answers A and D are correct.
Correct Answer:
Verified
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