If a particular good or service is an inferior and an increase in consumer income occurs,ceteris paribus,which of the following statements is FALSE?
A) At a given price,less will be spent on the good.
B) There will be a decrease in demand for the good.
C) The demand curve for the good will shift toward the origin.
D) There will be an increase in demand for the good.
Correct Answer:
Verified
Q23: Table 3-1 Q24: Table 3-1 Q25: Suppose that the demand curve for apples Q26: A demand curve is a graphical representation Q27: A demand schedule is a way of Q29: An increase in consumer income would lead Q30: Table 3-1 Q31: The market demand curve for a commodity Q32: Table 3-1 Q33: Table 3-1 Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
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