Which of the following is least likely to be an income inferior good? Select one:

a. Beans. b. Education. c. Corn. d. Rice.

Solutions

Expert Solution

The correct answer is B. Education.

An inferior good is the one whose demand decreases when income rises .

But education's demand is constant since it's the basic necessity of people . People enroll in large numbers in universities at present as their( parents' )income increases. Especially in USA.

Rahul Sunny answered 1 year ago

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