
If a consumer wants more of a good when his income rises,economists call it an inferior good.
Correct Answer:
Verified
Q115: Explain the difference between inferior and normal
Q174: At the consumer's optimum,the consumer's valuation of
Q175: Evaluate the following statement: "Warren Buffet is
Q176: The substitution effect of a price change
Q177: A rise in the interest rate will
Q178: Using the graph shown,construct a demand curve
Q180: The substitution effect (in the work-leisure model)
Q181: Assume that a person consumes two goods,coffee
Q183: Evaluate the following statement: "Giffen goods violate
Q184: Jonathan spent $10 buying sports drinks each
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