X is an inferior good. What would happen to the price of X if the cost of production of X increased at the same time as the consumers incomes (increased).
Options:
O the price would definitely decrease
O the price would definitely increase
O the effect on the price is be unknown because we don't know which shift dominates.
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Home » Business » Consider the following scenario: X is an inferior good. What would happen to the price of X if the cost of production of X increased at the same time as the consumers incomes (increased).