If a Is an Inferior Good and Consumer Income Rises,the

question 64

Multiple Choice

If A is an inferior good and consumer income rises,the demand for A

• A)increases and the equilibrium price and the equilibrium quantity increase.
• B)increases and the equilibrium price rises but the equilibrium quantity decreases.
• C)decreases and the equilibrium price and the equilibrium quantity decrease.
• D)decreases and the equilibrium price falls but the equilibrium quantity increases.
• E)decreases and the equilibrium price rises;as a result, the equilibrium quantity decreases.

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Definitions:

Principal Characteristics

Main or most significant features that define or distinguish someone or something.

Secondary Objective

Goals or aims that support the primary objectives of an organization or project but are not the main focus.

Primary Objective

The main goal or purpose that an organization or individual aims to achieve.

Improvement of Performance

The process of enhancing the effectiveness, efficiency, and productivity of employees or processes within an organization.