The x-corporation produces a good called x that is a normal, Ask an Expert

Management Studies

The X-Corporation produces a good (called X) that is a normal good. Its competitor, Y-Corp., 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 increase?

b. How will the demand for good Y change if consumer incomes decrease?

c. How will the demand for good X change if the price of good Y decreases?

d. Is good Y a lower-quality product than good X? describe.

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Business Management, Management Studies

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