What are the legal remedies available to consumers who purchase faulty or harmful inferior goods?

Suppose that bananas are an inferior good and that apples are a normal good. If there is an increase in the price of bananas, which of the following ... The underlying theoretical explanation is that lottery products may be considered an inferior good in countries having the highest levels of per-capita GDP (an ... Jan 31, 2013 ... By Benjamin Volland; Abstract: The question whether alcohol in general, and different types of alcoholic beverages in particular (e.g., ... First, we find evidence that bus travel is indeed an inferior good and declines in importance the richer a city is. Second, the German market provides a setting ... d.​ Are cigarettes an inferior good? Why? e.​ According to your results increases in advertising lead to a drop in sales. Yet cigarette companies advertise ... We propose a simple model of international trade between two regions, in which individuals have preferences over an inferior good and a luxury good. Estimates of the price-elasticity of cigarette demand continue to attract a great deal of attention because of their relevance to the role of excise taxes in ... inferior good a good for which the quantity demanded falls as income rises, and the quantity demanded rises as income falls; income elasticity of demand for ... Feb 15, 2016 ... Finally, we need to distinguish between luxuries, necessities, and inferior goods. A luxury good or service is one whose income elasticity ... Oct 23, 2019 ... But it cannot be called "child demand is an inferior good". Keywords: Demand for children, desired family size,. Neo-classical approach.