To say that turnips are inferior goods means that the income elasticity
A) is definitely greater than 1.
B) is definitely between 0 and 1.
C) is positive but could be greater than or less than (or equal to) 1.
D) is negative.

Question

Quizplus · Accepted Answer

Inferior goods have a negative income elasticity of demand, meaning that as income increases, the demand for these goods decreases.

To Say That Turnips Are Inferior Goods Means That the Income