Higher education is a normal good. If its price falls
A) the quantity demanded of higher education will fall.
B) the substitution and income effects work in opposite directions.
C) the income effect is negative.
D) higher education will satisfy the law of demand.

Question

Quizplus · Accepted Answer

When the price of a normal good like higher education falls, the quantity demanded increases, satisfying the law of demand.

Higher Education Is a Normal Good