With an increase in income,a consumer can increase the quantity consumed of
A) only good Y.
B) only good X.
C) either good,but not both.
D) either or both.

Question

Quizplus · Accepted Answer

With an increase in income, a consumer can increase the quantity consumed of either one or both goods, given that both goods are normal goods. Normal goods are those for which the quantity demanded increases as income increases. Therefore, the consumer can afford more of both X and Y as their income increases.

With an Increase in Income,a Consumer Can Increase the Quantity