Question

what is an inferior good?In what manner the demand curve of such a good affect when the consumer increased?use the diagram

Answer 1

Answer:

Inferior good: When with the increase in income of the consumer, the demand for a good decrease and, vice versa, the good is called an "inferior good".

Inferior good: When with the increase in income of the consumer, the demand for a good decreases and, vice versa, the good is called an "inferior good".

When income of the consumer increase, demand for the inferior goods decreases. Due to which demand curve shifts leftward. When consumer's income rises, demand curve shifts leftward from DD to D1 D1.

Explanation:

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