If Potatoes Are Inferior Goods,which of the Following Will Increase

question 45

Multiple Choice

If potatoes are inferior goods,which of the following will increase the demand for these goods?

• A)Increase in the price of a complement
• B)Decrease in income
• C)Decrease in the price of a substitute
• D)Increase in income

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Definitions:

International Strategy

A strategy in which global markets are penetrated using exports and licences.

Product Life Cycle

The series of stages that a product goes through from conception, through design and manufacture, to service and disposal including introduction, growth, maturity, and decline.

Drive-Thru Restaurants

Food service establishments that allow customers to order and receive food without leaving their vehicles, aiming for convenience and speed of service.