Which of the Following Statements Best Describes an Inferior Good

question 126

Multiple Choice

Which of the following statements best describes an inferior good?

• A) An inferior good is a good whose quantity supplied always exceeds its quantity demanded.
• B) An inferior good is a good whose demand decreases with an increase in consumers' income.
• C) An inferior good is a good that is sold at a subsidized price.
• D) An inferior good is a good that is rationed by the government.

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Definitions:

Motion

A formal request made to a court for an order or ruling in favor of the applicant.

Notice of Motion

A formal document filed with a court to inform parties about a motion, outlining the nature of the motion and when it will be presented.

Scheduling Order

A court mandate that sets the timeline for various stages of a lawsuit, including deadlines for filings, discoveries, and trial dates.

Pretrial Conference

A conference prior to trial in which the judge and the attorneys litigating the suit discuss settlement possibilities, clarify the issues in dispute, and schedule forth-coming trial-related events.