How Would a Decrease in Consumer Income Affect the Market

Multiple Choice

How would a decrease in consumer income affect the market for new furniture?

A) Demand would decrease, leading to an increase in price and a reduction in quantity sold.
B) Demand would decrease, leading to a reduction in price and a reduction in quantity sold.
C) Demand would increase, leading to an increase in price and an increase in quantity sold.
D) Demand would increase, leading to a reduction in price and an increase in quantity sold.