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1 Jul 2018
33) If A is an inferior good and consumer income rises, the demand for A A) decreases and the equilibrium price and the equilibrium quantity decrease. B) decreases and the equilibrium price falls but the equilibrium quantity increases. C) increases and the equilibrium price rises but the equilibrium quantity decreases. D) increases and the equilibrium price and the equilibrium quantity increase. E) decreases and the equilibrium price rises; as a result, the equilibrium quantity decreases.
33) If A is an inferior good and consumer income rises, the demand for A A) decreases and the equilibrium price and the equilibrium quantity decrease. B) decreases and the equilibrium price falls but the equilibrium quantity increases. C) increases and the equilibrium price rises but the equilibrium quantity decreases. D) increases and the equilibrium price and the equilibrium quantity increase. E) decreases and the equilibrium price rises; as a result, the equilibrium quantity decreases.
Reid WolffLv2
2 Jul 2018
