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Alex
3 years ago
14

If product Y is an inferior good, a decrease in consumer incomes will rev:

Business
1 answer:
Marat540 [252]3 years ago
4 0

Answer: Option (B) is correct.

Explanation:

Inferior good is a good whose demand is inversely related with the consumers income. This means that if there is an increase in the income of the consumer then as a result demand for normal good increases but demand for inferior goods decreases.

On the other hand, if there is a decrease in the income of the consumer then as a result demand for normal good decreases but demand for inferior goods increases.

Hence, decrease in consumer incomes will increase the demand of product Y and the demand curve for product Y to the right.  

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