37. If commodity Mis an inferior good, which of the following must be true? a. The demand curve for commodity M is horizontal b. An increase in the price of commodity M will decrease the supply of commodity M An increase in consumer income will decrease the demand for commodity M d. A decrease in consumer income will decrease the supply of commodity M.

37. If commodity Mis an inferior good, which of the following must be true? a. The demand curve for commodity M is horizontal b. An increase in the price of commodity M will decrease the supply of commodity M An increase in consumer income will decrease the demand for commodity M d. A decrease in consumer income will decrease the supply of commodity M.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 6CQQ

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