After getting a raise at work, Gustavo now regularly buys steak instead of chicken. Which factor of demand has influenced Gustavo's demand for steak?
A) Price of a substitute good
B) Price of a complementary good
C) Income
D) Preferences

Question

Quizplus · Accepted Answer

Gustavo's increase in income has led to a increase in his demand for steak. As he now has more money, he is able to afford a more expensive item and chooses the upgraded version of his regular meals.

After Getting a Raise at Work, Gustavo Now Regularly Buys