If the Price and Quantity for an Inferior Good,Good X,is

question 165

Multiple Choice

If the price and quantity for an inferior good,Good X,is $8 and 6 units at the original equilibrium,what is one possibility for the new equilibrium of Good X if we see income increase and all other factors stay constant?

• A) $10 and 4 units
• B) $10 and 8 units
• C) $6 and 4 units
• D) $6 and 8 units
• E) $10 and 2 units

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Definitions:

Nitroglycerin

A highly explosive liquid used medically as a vasodilator to treat heart conditions and industrially in the manufacture of explosives.

Commercial Explosive

Materials or chemicals used in the construction and mining industries, among others, to demolish or move materials through controlled explosions.

Dynamite

An explosive made of nitroglycerin, sorbents (like silica), and stabilizers, invented by Alfred Nobel and used in mining and construction.

Nonvolatile Solute

A solute that does not easily vaporize into gas under existing conditions, typically leading to an increase in the boiling point of the solvent when dissolved.