In the following question you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for, or supply (S) of, X; (2) the equilibrium price (P) of X; and (3) the equilibrium quantity (Q) of X.
-If X is an inferior good, a decrease in income will:

Question

In the following question you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for, or supply (S) of, X; (2) the equilibrium price (P) of X; and (3) the equilibrium quantity (Q) of X. 
-If X is an inferior good, a decrease in income will:

Quizplus · Accepted Answer

For an inferior good, demand increases when income decreases. This leads to an increase in both the equilibrium price and quantity of the good.

In the Following Question You Are Asked to Determine, Other