In the case of normal goods, the quantity demanded varies inversely with:
A)Price of good
B)Income of the consumer
C)Fashion of the good
D)Savings

Name: In the case of normal goods, the quantity demanded varies inversely with: A)Price of good B)Income of the consumer C)Fashion of the good D)Savings
Brand: Quizplus
Rating: 4.7 (32 reviews)

Question

Quizplus · Accepted Answer

For normal goods, as the price increases, the quantity demanded decreases, and vice versa, indicating an inverse relationship between price and quantity demanded.

In the Case of Normal Goods, the Quantity Demanded Varies