Which of the following would cause both the equilibrium price and equilibrium quantity of number two grade potatoes (an inferior good) to increase?

Name: Which of the following would cause both the equilibrium price and equilibrium quantity of number two grade potatoes (an inferior good) to increase?
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Question

Quizplus · Accepted Answer

A decrease in consumer income would increase the demand for inferior goods like number two grade potatoes, leading to an increase in both equilibrium price and quantity.

Which of the Following Would Cause Both the Equilibrium Price