Multiple Choice
Which of the following will increase the demand for a normal good?
A) A decrease in the number of consumers
B) A decrease in the price of a substitute
C) An increase in consumer income
D) An increase in the price of a complement
E) An increase in the demand for a substitute
Correct Answer:
Verified
Correct Answer:
Verified
Q21: The positive relationship between price and quantity
Q22: A demand schedule is a table of
Q23: Suppose consumer incomes increase, and we are
Q24: Exhibit 3-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6906/.jpg" alt="Exhibit 3-4
Q25: A demand curve represents the relationship between
Q27: According to the law of demand, when
Q28: Equilibrium prices are determined by<br>A)supply alone.<br>B)demand alone.<br>C)both
Q29: The law of demand states that, as
Q30: Which of the following is not held
Q31: The demand for apples shifts rightward when