Really great job. Thank you so much. I really love it. Thank you so much for all of your help.
since we are talking about an inferior good then I think when the buyers income goes down they would buy fewer quality or normal goods and buy more inferior goods therefore the demand curve for inferior goods would shift outward to the right and if there is a technological advance then the supply for inferior goods would increase so I think the answer is 3. Equilibrium quantity would increase but the impact on price would be ambiguous
however maybe if buyers income goes down then maybe they just buy fewer of all goods … if that is the case maybe quantity would be ambiguous and price would go down …..could you please help me clarify my thinking so I can apply to future questions thank you
is the answer 3
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