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If product Y is an inferior good, a decrease in consumer incomes will?

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If product Y is an inferior good, a decrease in consumer incomes will?

Postby archy » Tue Nov 22, 2011 3:20 am

A.Shift the demand curve for product Y to the left
B.Not affect the sales of product Y
C.Shift the demand curve for product Y to the right
D.Make buyers want to buy less of Product Y
archy
 
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If product Y is an inferior good, a decrease in consumer incomes will?

Postby jolie » Tue Nov 22, 2011 3:22 am

The answer is C.Income elasticity is negative.It will increase demand for Y.
jolie
 
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If product Y is an inferior good, a decrease in consumer incomes will?

Postby aldric13 » Tue Nov 22, 2011 3:30 am

c. demand will increase. so the demand curve moves right
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