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

Question

Quizplus · Accepted Answer

Number two grade potatoes are an inferior good, meaning that as consumer income decreases, demand for the good increases. Therefore, a decrease in consumer income would cause both the equilibrium price and equilibrium quantity of number two grade potatoes to increase.

Which of the Following Events Would Cause Both the Equilibrium