Increasing wages have caused incomes in the united states to increase. how will this impact the market for spam, an inferior goo

Question

Softa [21]

2 years ago

15

Increasing wages have caused incomes in the united states to increase. how will this impact the market for spam, an inferior goo

d?

Business

1 answer:

Firlakuza [10] · Answer 1 · 2023-11-12T16:13:37+03:00

The way that the increasing income would affect the market for spam an inferior good is that it would cause the demand for spam to decrease.

<h3>What is an inferior good?</h3>

This is the term that is used to refer to the good that the demand for falls whenever there is a positive change in income. That is as the income of a person rises, the demand that they would have for an inferior good would be more likely to fall.

Hence we can say that the The way that the increasing income would affect the market for spam an inferior good is that it would cause the demand for spam to decrease.