If hot dogs are inferior goods,the demand for hot dogs will rise as consumer income falls.

Question

Quizplus · Accepted Answer

Inferior goods are products that consumers buy less of as their incomes increase, and more of as their incomes decrease. Hot dogs are considered inferior goods because they are cheap and often seen as a lower-quality alternative to other types of food. Therefore, if consumer income falls, they are more likely to choose hot dogs as a cheaper option, leading to an increase in demand for hot dogs.

If Hot Dogs Are Inferior Goods,the Demand for Hot Dogs