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how does an increase in income affect the market of bus rides (inferior good)? a. the demand curve for bus rides to shift to the right b. the demand curve for bus rides to shift to the left c. the supply curve for bus rides to shift to the right d. the supply curve for bus rides to shift to the left

Respuesta :

When money rises, the demand curve regarding bus rides shifts to the left (inferior good).

The correct option is B.

What is an economic demand curve?

A demand curve is a graphic illustration of the relationship involving product price and quantity demanded in economics. It is drawn with the price upon that vertical axis and the amount requested on the horizontal axis.

Why is the demand curve so steep?

The demand curve often slopes downward because of the law of demand, which asserts that the price and demand of an item have an inverse proportional relationship. The constant a represents the influence of all factors affecting demand other than price.

What are the characteristics of a demand curve?

A demand curve is a line that depicts various locations on a graph in which the price of a product corresponds to the amount demanded.

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