Figure 3-23
-Refer to Figure 3-23. It is apparent from the figure that
A) the good is inferior.
B) the demand for the good decreases as income increases.
C) the demand for the good conforms to the law of demand.
D) All of the above are correct.

Question

Figure 3-23 
-Refer to Figure 3-23. It is apparent from the figure that
A) the good is inferior. 
B) the demand for the good decreases as income increases. 
C) the demand for the good conforms to the law of demand. 
D) All of the above are correct.

Quizplus · Accepted Answer

The law of demand states that as the price of a good decreases, the quantity demanded increases, which is typically shown in a demand curve. Without seeing Figure 3-23, this is the most likely correct choice.

Figure 3-23 -Refer to Figure 3-23. It Is Apparent from the Figure