If You Produce an Inferior Good and Consumers' Incomes Are

question 129

Multiple Choice

If you produce an inferior good and consumers' incomes are expected to increase, you should anticipate a ________price for your product than the current equilibrium price and a ________equilibrium quantity than the current equilibrium quantity.

• A)higher; higher
• B)higher; lower
• C)lower; higher
• D)lower; lower

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Definitions:

Option Button

A graphical user interface element that allows the user to make a single choice among a group of options, also known as a radio button.

Form Control

A user interface component that enables users to input data or adjust settings in a software application or web form.

Action

The process of doing something, typically to achieve an objective or a response to a user input in software.

Macro Dialog Box

A user interface element that allows users to run, edit, or create macros within software applications.