If a product is a normal good, an increase in your income will
A) increase demand for the product.
B) decrease demand for the product.
C) increase supply of the product.
D) decrease supply of the product.
A
Economics
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Refer to the diagram, in which S 1 and D 1 represent the original supply and demand curves and S 2 and D 2 the new curves. In this market:
A. supply has decreased and equilibrium price has increased.
B. demand has increased and equilibrium price has decreased.
C. demand has decreased and equilibrium price has decreased.
D. demand has increased and equilibrium price has increased.
Economics
An industry with a concentration ratio of 80 would have at least ____ firms.
A. 2 B. 3 C. 4 D. 5
Economics