Larry decreases his consumption of grapes after his income goes up. For Larry

Name: Larry decreases his consumption of grapes after his income goes up. For Larry
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When Larry's income increases, he may feel that he can afford to purchase more expensive or higher quality goods, and thus he may switch to other types of fruits that he previously could not afford before. Therefore, grapes are considered an inferior good for Larry - as his income increases, he consumes less of it.

Larry Decreases His Consumption of Grapes After His Income Goes