Multiple Choice
Which of the following statements about the factors that influence demand is true?
A) As the availability of close substitutes increases,the demand for a product increases.
B) As real consumer income increases,the demand for a product increases.
C) As the price of close substitutes increases,the demand for a product declines.
D) Changing consumer tastes have little impact on the demand for a product.
E) As real consumer income decreases,the demand for a product increases.
Correct Answer:
Verified
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