Asked by
Saloni Gupta
on Dec 11, 2024
Verified
Other things constant, a decrease in consumer income will
A) decrease the demand for large-screen television sets.
B) increase the demand for large-screen television sets.
C) cause a movement along the demand curve for large-screen television sets, but it will not shift the demand curve.
D) have no impact on the quantity demanded or the demand curve for large-screen television sets.
Consumer Income
The total earnings of consumers, encompassing wages, dividends, and other sources of income, which determine their purchasing power.
- Apprehend how consumer income and preferences affect demand.
Verified Answer
AL
Learning Objectives
- Apprehend how consumer income and preferences affect demand.