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What is the Mr. Big scenario about?
Inferior Good
A type of good for which demand decreases when the income of the consumer increases, inversely related to consumer income.
Inferior Good
A type of good for which demand decreases as the income of consumers increases, in contrast to a normal good.
Inferior Goods
A good that has a negative income elasticity, so that as consumer income rises, the demand for the good falls.
Normal Goods
Goods for which demand increases as the income of individuals increases.
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