Asked by
Halla Margrét
on Oct 09, 2024
Verified
If consumer incomes increase,the demand for product X:
A) will necessarily remain unchanged.
B) may shift either to the right or left.
C) will necessarily shift to the right.
D) will necessarily shift to the left.
Consumer Incomes
The total amount of money earned by consumers from various sources like wages, investments, and government benefits, which affects their purchasing power and economic behavior.
- Identify the relationship between consumer income fluctuations and the demand for normal and inferior goods.
Verified Answer
LF
Learning Objectives
- Identify the relationship between consumer income fluctuations and the demand for normal and inferior goods.