The table below shows the equilibrium market price and quantity traded of Good X (an inferior good) in 2016 and 2017. Ye
Posted: Sat Mar 19, 2022 5:49 pm
The table below shows the equilibrium market price and quantity
traded of Good X (an inferior good) in 2016 and 2017. Year Price
(cents) Quantity (units) 2016 50 10,000 2017 60 12,000 The change
in price and quantity from 2016 to 2017 could be due to
a. the imposition of an indirect tax on suppliers of Good X.
b. an increase in the price of a complement (in consumption) of
Good X.
c. an increase in the price of a substitute (in consumption) of
Good X.
d. an increase in household income.
traded of Good X (an inferior good) in 2016 and 2017. Year Price
(cents) Quantity (units) 2016 50 10,000 2017 60 12,000 The change
in price and quantity from 2016 to 2017 could be due to
a. the imposition of an indirect tax on suppliers of Good X.
b. an increase in the price of a complement (in consumption) of
Good X.
c. an increase in the price of a substitute (in consumption) of
Good X.
d. an increase in household income.