(Figure: Markets and Goods) Assuming the good is a normal good, which of the following statements is TRUE? I. The price of a substitute good decreased.
II) The price of a complement good increased.
III) The income of consumers increased.
IV) The number of buyers in the market increased.

Question

(Figure: Markets and Goods) Assuming the good is a normal good, which of the following statements is TRUE?  I. The price of a substitute good decreased.
II) The price of a complement good increased.
III) The income of consumers increased.
IV) The number of buyers in the market increased.

Quizplus · Accepted Answer

The Answer of (Figure: Markets and Goods) Assuming the good is a normal good, which of the following statements is TRUE?  I. The price of a substitute good decreased.
II) The price of a complement good increased.
III) The income of consumers increased.
IV) The number of buyers in the market increased.

(Figure: Markets and Goods) Assuming the Good Is a Normal