If Macaroni and Cheese Is an Inferior Good, Falling Incomes

question 34

Multiple Choice

If macaroni and cheese is an inferior good, falling incomes will tend to:

• A) put upward pressure on its price and quantity.
• B) put downward pressure on its price and quantity.
• C) raise its price but lower its quantity.
• D) lower its price but raise its quantity.

---

Definitions:

Brand Name

The name given to a product or service from a specific source, recognized by consumers as a symbol of quality and consistency.

Logo

A symbol or design adopted by an organization to identify its products, uniforms, vehicles, etc.

Brand Name

The unique name given to a product or service from a specific source, used to distinguish it from others in the market.

Higher-Quality Materials

Substances or components that are superior in terms of durability, texture, and overall performance in the manufacturing of products.