Figure 4-4

-Assume that Figure 4-4 shows demand for steak.An increase in income of buyers will change demand from
A)D₁ to D₂.
B)D₂ to D₁ .
C)D₃ to D₂.
D)D₃ to D₁ .

Question

Figure 4-4
 
-Assume that Figure 4-4 shows demand for steak.An increase in income of buyers will change demand from
A)D₁ to D₂. 
B)D₂ to D₁ . 
C)D₃ to D₂. 
D)D₃ to D₁ .

Quizplus · Accepted Answer

An increase in income of buyers will result in an increase in demand for a normal good like steak. This means that the demand curve will shift to the right, from D₁ to D₂.

Figure 4-4 -Assume That Figure 4-4 Shows Demand for Steak.An Increase in for Steak.An