If a good is an inferior good then an increase in incomes of the consumers will:

A. Increase demand for the good

B. Increase supply of the good

C. Reduce the equilibrium price of the good

D. None of the above

Please do not use chat terms. Example: avoid using "grt" instead of "great".

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  1. Which of the following pairs of commodities is an example of substitutes?
  2. According to translog production function, elasticity of substitution is:
  3. The relationship between price effect, income effect and substitution effect is:
  4. In case of income effect, the level of consumers satisfaction rises when:
  5. A dominant strategy can best be described as:
  6. The equilibrium level of output for the pure monopolist is where:
  7. To calculate the Economic Profit we must deduct which of the following cost from our total revenues?
  8. Utility is a function of:
  9. The general markets results from the imposition of price ceilings has been:
  10. If the supply and demand increases equally, the price will:
  11. Supply of commodity is a:
  12. In monopoly and perfect competition, TC curves are:
  13. For monopolistic competitive firm:
  14. A firm considering what type of new plant to build is involved in a:
  15. Efficient allocation of resources is achieved to a greater extent under:
  16. If the supply curve is not a straight line but curvilinear, the elasticity on all points of the supply…
  17. Economic problems arise because:
  18. The Hicksian indirect utility function in the form of equation is:
  19. If the commodity is inferior then:
  20. The law of demand is most directly a result of:
  21. When the consumer is in equilibrium not only his income is fully spent, but the ratio of marginal utility…
  22. The slope of an iso-quant represents:
  23. Under Bandwagon effects, people use those goods which are used by their:
  24. In substitution effect, we:
  25. In the range of excess capacity, the average costs are:
  26. Each SAC represents a particular level of:
  27. We can write ordinal utility function as:
  28. The budget constraint can be written as:
  29. Economics is a:
  30. The long-run AC curve is constructed from: