Question: Suppose there is a decrease in income among consumers in a market for an inferior good and at the same time, there is a decrease

Suppose there is a decrease in income among consumers in a market for an inferior good and at the same time, there is a decrease in an input price. What would we expect to happen in the market?

Equilibrium price would decrease, but the impact on equilibrium quantity would be ambiguous.

Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous.

Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.

Equilibrium price would increase, but the impact on equilibrium quantity would be ambiguous.

Suppose there is a decrease in income among

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