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If an Increase in Income Results in Higher Prices for Yachts

Question 36

Multiple Choice

If an increase in income results in higher prices for yachts, we can conclude


A) that yachts are inferior goods.
B) that there was a decrease in the supply of yachts.
C) that there was an increase in the supply of yachts.
D) that yachts are normal goods.
E) there's no relationship between income and the demand for yachts.

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