In: Economics
Which of the following is least likely to be an income inferior good? Select one:
a. Beans. b. Education. c. Corn. d. Rice.
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.