If you consume less of a good as your income increases:
A)your demand curve is not downward sloping for that good.
B)the good must be an inferior good.
C)the good must not have any close substitutes.
D)your quantity demanded changed by a movement along the demand function.

Question

Quizplus · Accepted Answer

Income elasticity is the percentage change in quantity consumed when there is a one percent change in income.For inferior goods,an increase in income leads to a decrease in consumption.

If You Consume Less of a Good as Your Income