Assume that brand X is an inferior good and name brand Y is a normal good. An increase in consumer income, other things being equal, will cause a/an:

Question

Quizplus · Accepted Answer

An increase in consumer income typically leads to a decrease in demand for inferior goods, as consumers opt for higher-quality alternatives. This is represented by a leftward shift in the demand curve for brand X, an inferior good.

Assume That Brand X Is an Inferior Good and Name