Exhibit 3-2
-Refer to Exhibit 3-2.Which of the following would result in a movement from point B on D? to point A on D??
A) There was an increase in income (assuming that good X is an inferior good) and technology remained constant.
B) There was an increase in income (assuming that good X is a normal good) and technology remained constant
C) There was an increase in income (assuming that good X is an inferior good) and technology improved.
D) There was an increase in income (assuming that good X is a normal good) and technology declined.
Correct Answer:
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A) where
