2. Thrift store clothing is considered an inferior good. The demand for thrift store clothing decreases as the consumer's income decreases decreases as the price of a substitute increases increases as the consumer's income decreases increases as the consumer's income increases

2. Thrift store clothing is considered an inferior good. The demand for thrift store clothing decreases as the consumer's income decreases decreases as the price of a substitute increases increases as the consumer's income decreases increases as the consumer's income increases

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Elastic And Its Application

Section: Chapter Questions

Problem 7PA: Maria has decided always to spend one third of her income on clothing. a. What is her income...

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2. Thrift store clothing is considered an inferior good. The demand for thrift store clothing
decreases as the consumer's income decreases
decreases as the price of a substitute increases
increases as the consumer's income decreases
increases as the consumer's income increases

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