Which of the Following Decreases the Demand for an Inferior

question 130

Multiple Choice

Which of the following decreases the demand for an inferior good?

• A) a decrease in the price of a complement
• B) an increase in income
• C) an increase in the price of a substitute
• D) a decrease in income

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Definitions:

Remedy of Damages

Legal compensation sought or awarded in a lawsuit for loss or injury caused by another's wrongdoing.

Contract Law

The body of law that governs the formation, execution, and enforcement of agreements between parties.

Limitation

A restriction or bound; in legal terms, it refers to the maximum time period within which legal action can be initiated.

Equitable Remedies

Judicial awards made to fairly resolve a legal issue or dispute, including injunctions, specific performance, and rescission, based on principles of equity rather than fixed law.