Something is an inferior good if
A) the demand for it decreases when its price rises.
B) the demand for it decreases when its price falls.
C) the demand for it increases when income rises.
D) the demand for it increases when income falls.
D
Economics
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In destination countries, as immigration occurs and more labor is employed, in the short run, wages fall and the marginal products of land and capital (fixed resources):
a. are unaffected. b. both rise. c. both fall. d. rise for one and fall for the other.
Economics
Refer to the above diagram. This firm's average fixed costs are:
A. not shown. B. equal to the per unit change in MC. C. the vertical distance between AVC and MC. D. the vertical distance between AVC and ATC.
Economics