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The X-Corporation produces a good (called X) that is a normal good. Its competitor, Y-Corporation, makes a substitute good that it markets under the name
The X-Corporation produces a good (called X) that is a normal good. Its competitor, Y-Corporation, makes a substitute good that it markets under the name "Y." Good Y is an inferior good. a. How will the demand for good X change if consumer incomes decrease? It will increase. It will stay the same. O It will decrease. b. How will the demand for good Y change if consumer incomes increase? It will increase. O It will decrease. O It will stay the same. c. How will the demand for good X change if the price of good Y increases? O It will stay the same. O It will increase. O It will decrease. d. Is good Y a lower-quality product than good X? O No - good Y is a higher quality product than good X. O Yes - good Y is a lower quality product than good X. O Not necessarily - it could be higher or lower quality. An sand Vina nendint of idontinal militito mand V
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