The concept of inferior goods can be used to show that

Question

Quizplus · Accepted Answer

The concept of inferior goods suggests that when an individual's income rises, they may consume less of these goods despite being able to afford more. This contradicts the idea that consumers will always buy more of all products if their incomes increase, which is stated in option D. Option A suggests a negative correlation between price and quality, which is not necessarily true for all goods. Option B references the possibility of positively sloped indifference curves, which is not related to the concept of inferior goods.

The Concept of Inferior Goods Can Be Used to Show