Long-distance travel by bus is an inferior good. As people's incomes increase and other things remain the same, you predict that the
A) price of long-distance travel by bus will fall and the demand for long-distance travel by bus will increase.
B) price of long-distance travel by bus will fall.
C) demand for long-distance travel by bus will decrease and the price will rise.
D) demand for long-distance travel by bus will increase as the price of long-distance travel by bus falls.
Correct Answer:
Verified
Q285: Doctors find that one aspirin per day
Q286: Which of the following raises the equilibrium
Q287: Between 2001 and 2015, equilibrium college tuition
Q288: If the U.S. Surgeon General announced that
Q289: Coffee and sugar are complements. If a
Q291: An increase in demand combined with no
Q292: If the price of a movie download
Q293: The price of a gallon of milk
Q294: Suppose the equilibrium price of bottled water
Q295: What will happen to the equilibrium price
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents