If a good is an inferior good, then?
Question
If a good is an inferior good, then?Options
A)
it is also necessarily a Giffen good
B)
the quality of the goods demanded varies inversely with its price
C)
its income elasticity of demand is negative
D)
the poor buy the good only out of habit
Related Lesson: Income Elasticity of Demand | Elasticity
The correct answer is C.
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