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If an economist sees that an inferior good's price has increased from $1.00 to $1.50 per unit, and that the income available to purchase that
If an economist sees that an inferior good's price has increased from $1.00 to $1.50 per unit, and that the income available to purchase that inferior good has increased from $10,000 to $15,000, the economist will likely conclude that __________.
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the equilibrium quantity will increase, because both forces have a positive effect
the quantity demanded of the good has increased
the equilibrium quantity will decrease, because both forces have a negative effect
10,000 units would be purchased in both cases
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