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Good Y is an inferior good. If the average income of those who buy good Y rises, the _____________ ...

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Good Y is an inferior good. If the average income of those who buy good Y rises, the _____________ ...

Good Y is an inferior good. If the average income of those who buy good Y rises, the _____________ curve for good Y will shift ____________ resulting in a(n) _____________ in the equilibrium price of Y and a(n) ____________ in the equilibrium quantity of Y.

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supply; rightward; decrease; increase.

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demand; leftward; decrease; decrease

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demand; rightward; increase; increase

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supply; leftward; increase; decrease

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supply; leftward; increase; increase

Textbook

Economics

Edition: 12^th

Author: Arnold

Read 41 times

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