Question: If income increases and the demand for good X shift as shown in the figure, then is good X a normal or inferior good? Give
If income increases and the demand for good X shift as shown in the figure, then is good X a normal or inferior good? Give an example of a good like good X.
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Price Demand with low income Demand with high income Quantity
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Inferior The shift is a fall in demand and when a rise in income causes a ... View full answer
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