Ceteris paribus, which of the following would cause a decrease in the demand for HD TVs, a normal good?
A. decline in the price of HD TVs.
B. increase in the price of HD TVs.
C. increase in consumers' income.
D. decrease in consumers' income.
Answer: D
Economics
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Markets can give a buyer everything a buyer needs to know about a product even though the buyer does not have the training to understand the specific knowledge needed to build or distribute the product. Explain.
What will be an ideal response?
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