You notice that as income of consumers increases, the demand for cell phones also increases. In such a case, you can conclude that cell phones are Group of answer choices an inferior good. a normal good. a perfectly competitive good. a non-durable good.

You notice that as income of consumers increases, the demand for cell phones also increases. In such a case, you can conclude that cell phones are Group of answer choices an inferior good. a normal good. a perfectly competitive good. a non-durable good.

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter4: Demand, Supply, And Markets

Section: Chapter Questions

Problem 2QFR

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You notice that as income of consumers increases, the demand for cell phones also increases. In such a case, you can
conclude that cell phones are
Group of answer choices
an inferior good.
a normal good.
a perfectly competitive good.
a non-durable good.

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Step 1: Define Inferior goods

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