My income rose and the price of good Y rose also. That means that my demand curve for good X shifted right.
A) This statement is always true.
B) This statement will always be true if good Y is a substitute for good X.
C) This statement will always be true if good X is a normal good.
D) This statement will always be true if good Y is a substitute for X and X is a normal good.
Correct Answer:
Verified
Q4: The price of peanut butter rises due
Q5: A new technology is announced which allows
Q6: A hailstorm kills all of the wheat
Q7: If the Surgeon General announces that colas
Q8: Please refer to the following diagram.
Q10: The real price of a product is
Q11: Which is not true of market equilibrium?
A)All
Q12: The law of demand states that
A)scarcity can
Q13: If income rises
A)the demand curve will shift
Q14: Please refer to the following diagram
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