If good A is a normal good and income increases, the equilibrium price of A ________ and the equilibrium quantity of A ________.
A) rises; increases
B) rises; decreases
C) falls; decreases
D) falls; increases
Correct Answer:
Verified
Q294: Suppose the equilibrium price of bottled water
Q295: What will happen to the equilibrium price
Q296: Which of the following raises the price
Q297: Suppose that people find out that eating
Q298: If the demand for hamburgers decreases, the
Q300: In March, the quantity of orange juice
Q301: Peanut butter and jelly are complements for
Q302: Every spring, motorists do more driving than
Q303: Beef and leather belts are complements in
Q304: During the last decade, the price of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents