An inferior good is one for which a(n) _____ in buyers' income causes a(n) _____.

Question

Quizplus · Accepted Answer

An inferior good is a type of good that experiences a decrease in demand as income increases. This is because as consumers' income increases, they are more likely to switch to higher-quality alternatives, leaving the inferior good behind. As a result, an increase in income causes a decrease in demand for inferior goods, which means that the correct answer is (C).

An Inferior Good Is One for Which A(n) _____ in Buyers