Author Question: Assume that brand X is an inferior good and name brand Y is a normal good. An increase in consumer ... (Read 53 times)

MGLQZ · **on:** Jun 30, 2018

Assume that brand X is an inferior good and name brand Y is a normal good. An increase in consumer income, other things being equal, will cause a(n):
a. upward movement along the demand curve for name brand Y.
b. downward movement along the demand curve for brand X.
c. rightward shift in the demand curve for brand X.
d. leftward shift in the demand curve for brand X.

Question 2

Assuming that shoe repair services are an inferior good, an increase in consumer income, other things being equal, will cause a(n):
a. leftward shift in the demand curve.
b. downward movement along the demand curve.
c. rightward shift in the demand curve.
d. upward movement along the demand curve.