Solved

If the Demand for a Good Increases Because Consumer Income

Question 406

Multiple Choice

If the demand for a good increases because consumer income increases, the good is a(n) :

A) inferior good.
B) normal good.
C) necessity good.
D) luxury good.

Related Questions

Q68: An increase in the demand for a

Q401: Total consumer surplus is measured by the

Q402: Exhibit 3-2 Demand curves<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6121m/.jpg" alt="Exhibit

Q403: Market equilibrium is:<br>A) defined as the

Q404: The law of demand refers to the:<br>A)

Q405: Producer surplus is the:<br>A) number of producers

Q407: A shortage occurs when the quantity demanded

Q408: Exhibit 3-16 Supply and demand curves

Q409: An increase in the number of producers

Q411: The most plausible reason why changes in