Multiple Choice
Which of the following must be true if good X is a normal good and income increases?
A) The demand for X will increase, and thus the price and quantity sold and bought will decrease.
B) The demand for X will decrease, and thus the price and quantity sold and bought will decrease.
C) The demand for X will increase, and thus the price and quantity sold and bought will increase.
D) The demand for X will decrease, and thus the price and quantity sold and bought will increase.
E) The demand for X will increase, and thus the price and quantity sold and bought will remain the same.
Correct Answer:
Verified
Correct Answer:
Verified
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