A market that is initially in equilibrium may find that demand for a normal good increases due to:
A) A fall in price of a substitute good
B) A fall in price of a complementary good
C) A fall in consumer income
D) A fall in manufacturing costs
Correct Answer:
Verified
Q4: An increase in supply is likely to
Q5: If there is a shortage in a
Q6: If there is a surplus in a
Q7: An increase in indirect tax will usually
Q8: If demand increases the supply curve will
Q9: In a free market the price will
Q10: If supply and demand are equal and
Q11: If the price is below equilibrium in
Q12: A decrease in indirect tax will usually
Q13: Producers and consumers make decisions:
A) Interdependently
B) Through
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