Examlex
The demand curve for any input is the downward-sloping portion of its marginal revenue product curve.
Inferior Good
A type of good for which demand decreases as the income of consumers increases, opposite to normal goods.
Money Income
The complete sum of financial gains accrued by a person or a family unit, encompassing earnings from employment, benefits, and returns on investments.
Demand Curve
A graph showing the relationship between the price of a product and the quantity of the product demanded at those prices.
Inferior Good
A type of good for which demand decreases as the income of consumers increases, in contrast to a normal good where demand increases with an increase in consumers' income.
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