Table 5-2
-Refer to Table 5-2.Which of the following best describes good Y
A)not related to income
B)an inferior good
C)price inelastic
D)a normal good

Name: Table 5-2 -Refer to Table 5-2.Which of the following best describes good Y A)not related to income B)an inferior good C)price inelastic D)a normal good
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Question

Table 5-2 
-Refer to Table 5-2.Which of the following best describes good Y
A)not related to income 
B)an inferior good 
C)price inelastic 
D)a normal good

Quizplus · Accepted Answer

Good Y is described as an inferior good because its demand decreases as consumer income increases, which is characteristic of inferior goods.

Table 5-2 -Refer to Table 5-2.Which of the Following Best Describes Good