--%>
Assignment Help - homework help

Define Inferior good

Inferior good: It is a good for which, other things equivalent, a rise in income leads to a reduction in demand.

   Related Questions in Microeconomics

  • Q : Advertising for higher prices Brand

    Brand name aspirin sells on higher prices than generic aspirin since: (w) higher prices mean higher quality. (x) they are chemically superior. (y) they cost more to produce. (z) advertising campaigns relate the brand name along with quality.

  • Q : Definition of Corporate bonds I have a

    I have a problem in economics on Definition of Corporate bonds. Please help me in the following question. The corporate bonds are on an average, _____ than stocks to the investor and _____ then stocks to the issuing corporation. (1) Riskier; less of a risk (2) Riskier

    		•
  • Q : What is APS What is APS? APS = S/Y. It

    What is APS? APS = S/Y.It is the ratio of income to saving which is termed as APS.

    		•
  • Q : Profit-maximizing monopolistic

    When price discrimination is not possible this profit-maximizing monopolistic competitor charges a price of $______ as well as produces ___________ units of output: (w) $12 || 5 thousand. (x) $15 || 8 thousand. (y) $16 || 7 thousand.

    		•
  • Q : Define marginal cost Marginal cost : It

    Marginal cost: It is the change in sum cost by generating one more or less unit of output.

    		•
  • Q : Operation of profit maximizing

    While marginal cost is positive, a profit maximizing monopolist will control where marginal revenue is: (w) positive. (x) negative. (y) zero. (z) positive, zero, or negative, depending upon elasticity of demand.

    Q : Highest income in supply Glynn s weekly

    Glynn s weekly income would be the highest at: (1) point a. (2) point b. (3) point c. (3) point d. (4) point e. 1621_Labor-Leisure Trade-off</span></p> </div> <!-- /comment-box --> </li> </td> </tr><tr> <td> <li> <div class=

    Q : Negative slope of market-Law of demand

    I have a problem in economics on Negative slope of market-Law of demand. Please help me in the following question. The negative slope of the market demand curves for normal goods areleast persuaded by: (i) Diminishing marginal utility.  (ii) Inco

    		•
  • Q : Problem on sole Proprietorships I have

    I have a problem in economics on Problem on sole Proprietorships. Please help me in the following question. The form of business association with the greatest potential financial liability for its owners is the: (1) Corporation. (2) Sole proprietorshi

    		•
  • Q : Production possibility history of World

    Can someone help me in determining the right answer from the given options. Through the onset of World War-II, the United States: (i) Expanded the military output just by increases taxes rigorously. (ii) Moved in the direction of its production possibilities frontier.

    		•