Refer to the above figure. The arrows show the direction of a shift in the demand curve of Good A. Which of the following would be the most likely reason for the shift in the demand curve if Good A is an inferior good?

A. an increase in consumers' income
B. a decrease in the price of Good A
C. an increase in the price of Good A
D. a decrease in consumers' income

Answer: D

Economics

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Refer to the graph shown. Total cost of producing Q* is represented by:

A. area 0Q*CD. B. area 0Q*AF. C. area 0Q*BE. D. cannot be determined.

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