Figure 3-1
-Refer to Figure 3-1.If the product represented is a normal good,an increase in income would be represented by a movement from

Question

Figure 3-1 -Refer to Figure 3-1.If the product represented is a normal good,an increase in income would be represented by a movement from A)A to B. B)B to A. C)D₁ to D₂. D)D₂to D₁.

Quizplus · Accepted Answer

An increase in income, for a normal good, typically increases the demand for that product. This is represented by a shift of the demand curve to the right, from D₁ to D₂, indicating a higher quantity demanded at each price level.

Figure 3-1 -Refer to Figure 3-1.If the Product Represented Is a Normal