Table 5-2
Quantities urchased
$\begin{array}{|c|c|c|}
\hline \text { Income(\$) } & \text { Good X } & \text { Good Y } \
\hline 30000 & 2 & 20 \
\hline 50000 & 5 & 10 \
\hline
\end{array}$
-Refer to Table 5-2.Good Y is:
A)not related to income
B)an inferior good
C)price inelastic
D)a normal good

Question

Table 5-2
Quantities urchased
 $\begin{array}{|c|c|c|}
\hline \text { Income(\$) } & \text { Good X } & \text { Good Y } \
\hline 30000 & 2 & 20 \
\hline 50000 & 5 & 10 \
\hline
\end{array}$
-Refer to Table 5-2.Good Y is:
A)not related to income
B)an inferior good
C)price inelastic
D)a normal good

Quizplus · Accepted Answer

As the quantity purchased of Good Y decreases as income increases (from 200 units to 150 units to 100 units), it is clear that Good Y is an inferior good.

Table 5-2 Quantities Urchased -Refer to Table 5-2

Table 5-2
Quantities Urchased -Refer to Table 5-2