If X is a normal good, an increase in consumers' income will result in an increase in the demand for good X.

Name: If X is a normal good, an increase in consumers' income will result in an increase in the demand for good X.
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Question

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According to the law of demand, when the income of consumers increases, their purchasing power increases, leading to an increase in the demand for normal goods like X. Therefore, an increase in consumers' income will result in an increase in the demand for good X.

If X Is a Normal Good, an Increase in Consumers