Exhibit 3-3 Demand curves

-Which of the graphs in Exhibit 3-3 depicts the effect of an increase in income on the demand for pork and beans (an inferior good)?

Name: Exhibit 3-3 Demand curves -Which of the graphs in Exhibit 3-3 depicts the effect of an increase in income on the demand for pork and beans (an inferior good)?
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Question

Exhibit 3-3 Demand curves

-Which of the graphs in Exhibit 3-3 depicts the effect of an increase in income on the demand for pork and beans (an inferior good)?

Quizplus · Accepted Answer

An increase in income typically decreases the demand for an inferior good, shifting the demand curve to the left, which is depicted in Graph C.

Exhibit 3-3 Demand Curves