Asked by
Harsha Singh
on Nov 16, 2024
Verified
If a consumer purchases more of good B when his income rises, good B is an inferior good.
Inferior Good
A type of good for which demand decreases as the income of consumers increases, inversely related to income changes.
- Gain insight into how consumer earnings influence the buying behavior regarding normal and inferior goods.
Verified Answer
CT
Learning Objectives
- Gain insight into how consumer earnings influence the buying behavior regarding normal and inferior goods.
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