So, if per capita income falls": (a) the supply of flour will shift to the left. (b) the quantity of flour supply will fall. c) The demand for flour will shift

Managerial Economics: A Problem Solving Approach
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ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter8: Understanding Markets And Industry Changes
Section: Chapter Questions
Problem 7MC
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For each of the alternatives below, explain for each one whether it is true, false or uncertain, based on the following statement:
"Flour is an inferior good. So, if per capita income falls":
(a) the supply of flour will shift to the left.
(b) the quantity of flour supply will fall.
c) The demand for flour will shift to the right.
d) The demand for flour will shift to the left.

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