If an increase in consumer incomes leads to a decrease in the demand f – McqOptions

MCQOPTIONS

1.	If an increase in consumer incomes leads to a decrease in the demand for camping equipment, then camping equipment is ?
A.	a normal good
B.	none of these answers
C.	an inferior good
D.	a substitute good
Answer» D. a substitute good

Discussion

No Comment Found

Related MCQs

Which of the following statements is true about the impact of an increase in the price of lettuce ?
With a positive externality ?
With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal _____ and its consumer surplus would ____ relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted ?
With free trade suppose that the rest of the world can supply computers to Norway at a price of $1,500 Norway’s imports will now equal. Compared to What occurred in the absence of trade, Norway’s consumers surplus will _____ and its producer surplus will ____. Can you calculate these amounts? Try plotting the information of this table on a sheet of graph paper ?
Which of the following shifts the demand for watches to the right ?
Which of the following is the government most likely to subsidies ?
Which company in the United States would likely be most concerned about Brazil’s dumping of steel in the U.S market ?
Which best describes consumer surplus ?
Where a tax can be shifted, the incidence depends on ?
When supply increase in an agricultural market farmer’s earning might fall because ?