The Price and quantity relationship for an inferior good is:

Related MCQs

• Supply curve represents -------- relationship between quantity and price
• When individuals income falls (everything remain the same) his demand for an inferior good
• If the percentage increase in the quantity demanded of a commodity is smaller than the percentage fall in its price, the coefficient of price elasticity:
• If the quantity demanded remains unchanged as the price of the commodity falls, the coefficient of price elasticity of demand is
• The curve showing the quantity of a good that would be purchased at various income levels:
• Inferior goods are the goods with
• Income consumption curve of an inferior commodity is
• Income elasticity of demand for inferior goods is:
• When an individual’s income falls, when everything else remains the same, his demand for inferior goods:
• Other things remaining the same, the quantity of a product demanded increases with ----- in price.