All else equal, the demand for _____ good will decrease when income increases.
A) an inferior
B) a normal
C) a complementary
D) a substitute

Name: All else equal, the demand for _____ good will decrease when income increases. A) an inferior B) a normal C) a complementary D) a substitute
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Question

Quizplus · Accepted Answer

An inferior good is one where demand decreases as income increases, because consumers start buying more expensive substitutes instead.

All Else Equal, the Demand for _____ Good Will Decrease