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Author Question: Which of the following statements best describes an inferior good? A) An inferior good is a good ... (Read 136 times)

dakota nelson

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on: Jun 29, 2018
Which of the following statements best describes an inferior good?
 
  A) An inferior good is a good whose quantity supplied always exceeds the quantity demanded.
  B) An inferior good is a good whose demand decreases with an increase in consumers' income.
  C) An inferior good is a good that is sold at a subsidized price.
  D) An inferior good is a good that is rationed by the government.

Question 2

Which of the following is likely to lead to a right shift in the demand curve for labor in the coffee producing industry?
 
  A) A decrease in the price of tea
  B) An increase in the demand for tea
  C) A decrease in the demand for coffee
  D) An increase in the demand for coffee


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Jordin Calloway

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


dakota nelson

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

cpetit11

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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