Which of the following is true for an inferior good?
A) Unlike for normal goods, as the price of an inferior good increases, the quantity demanded of the good falls.
B) A larger proportion of those who buy inferior goods are likely to be those who earn
C) The demand curve for inferior goods is upward sloping.
D) Inferior goods are not likely to have many substitutes or complements.

Question

Quizplus · Accepted Answer

Inferior goods are typically purchased by individuals with lower income, as they tend to opt for cheaper alternatives when their income is limited.

Which of the Following Is True for an Inferior Good