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If the consumer income increases the demand for product x...

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Sonal Bahl
Sonal BahlLv10
27 Sep 2020
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Related questions

Ā If consumer income increases, what will happen to the demand for product x?

Which of the following does the law of demand specifically imply?
Ā 
a) If the product price increases, quantity demanded will decrease.
b) If consumer income increases, quantity demanded will increase.
c) If the product price increases, quantity demanded will increase.
d) If consumer income increases, quantity demanded will decrease.
e) If supply increases, demand will increase.

Other things being equal, the law of demand suggests that as:

 

A. Demand for a commodity increase when the price of commodity increases

B. Demand for a commodity increases when the price of commodity decreases.

C. Demand increases due to an increase in consumer income.

D.When consumer expectations increase it will lead to a decrease in demand.

 

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