Asked by Karielle Waller on Sep 24, 2024

​A product can be classified as an inferior good if an increase in the income causes

A) ​A decrease in the quantity demanded
B) A decrease in demand
C) An increase in demand
D) ​An increase in the quantity demanded. 

Inferior Good

A type of good for which demand decreases as the income of consumers increases, opposite to normal goods.

Income

Money received on a regular basis from work, property, business, or investments.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price within a specified period.

  • Differentiate between normal and inferior goods.