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If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is an inferior good.
If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is an inferior good. FALSE.
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Asked 4/30/2015 8:34:54 AM
Updated 4/30/2015 8:48:59 AM
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If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is an inferior good. FALSE.
Added 4/30/2015 8:48:59 AM
This answer has been confirmed as correct and helpful.
Confirmed by Andrew. [4/30/2015 8:53:27 AM]
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