Answered

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Assuming Ramen noodles are an inferior good, a decrease in income will shift the:

A. supply curve for Ramen noodles inward, to the left
B. supply curve for Ramen noodles outward, to the right
C. demand curve for Ramen noodles outward, to the right
D. demand curve for Ramen noodles inward, to the left

Select the correct answer.

Sagot :

GinnyAnswer

Final answer:

When income decreases, the demand for Ramen noodles shifts outward, to the right, making them an inferior good. Giffen goods like rice in southern China or noodles in northern China exhibit a rightward shift in demand when incomes decrease.


Explanation:

Ramen noodles being an inferior good means that when income decreases, the demand for Ramen noodles would shift outward, to the right. An example of a good for which the demand curve might shift rightward when incomes decrease is a Giffen good, like rice in southern China or noodles in northern China, as observed in the empirical studies mentioned.


Learn more about Demand curve shifts for inferior goods here:

https://brainly.com/question/28589206


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