« previous next »

Author Question: Which of the following must be true if good X is a normal good and income increases? a. The demand ... (Read 288 times)

bclement10

  • Hero Member
  • *****
  • Posts: 560
on: Jun 30, 2018
Which of the following must be true if good X is a normal good and income increases?
 a. The demand for X will increase, and thus the price and quantity sold and bought will decrease.
  b. The demand for X will decrease, and thus the price and quantity sold and bought will decrease.
  c. The demand for X will increase, and thus the price and quantity sold and bought will increase.
  d. The demand for X will decrease, and thus the price and quantity sold and bought will increase.
  e. The demand for X will increase, and thus the price and quantity sold and bought will remain the same.

Question 2

If consumer incomes go up and cars are a normal good, the effect on the demand for cars ceteris paribus, will be a(n):
 a. upward movement along the demand curve for cars.
  b. downward movement along the demand curve for cars.
  c. rightward shift in the demand curve for cars.
  d. leftward shift in the demand curve for cars.


Sarahjh

  • Sr. Member
  • ****
  • Posts: 370
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

c


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

bclement10

  • Hero Member
  • *****
  • Posts: 560
Reply #2 on: Jun 30, 2018
Thank you :)


Sarahjh

  • Sr. Member
  • ****
  • Posts: 370
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

About 80% of major fungal systemic infections are due to Candida albicans. Another form, Candida peritonitis, occurs most often in postoperative patients. A rare disease, Candida meningitis, may follow leukemia, kidney transplant, other immunosuppressed factors, or when suffering from Candida septicemia.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

In inpatient settings, adverse drug events account for an estimated one in three of all hospital adverse events. They affect approximately 2 million hospital stays every year, and prolong hospital stays by between one and five days.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

The risk of dying before the age of 65 gets lower as family income gets higher. The risk of dying before the age of 65 gets lower as family income gets higher.
Race-Ethnicity and Income Extremes Race-Ethnicity and Income Extremes
A) Normal bronchiole and (B) bronchiole constricted in asthma attack. A) Normal bronchiole and (B) bronchiole constricted in asthma attack.
Ten Leading Causes of Death in Low-Income Countries, 2008 Ten Leading Causes of Death in Low-Income Countries, 2008
A cross section of muscle showing the molecular organization within the muscle fiber. In normal musc A cross section of muscle showing the molecular organization within the muscle fiber. In normal musc
Regulatory effects of the vascular endothelium in normal and pathologic states Regulatory effects of the vascular endothelium in normal and pathologic states
Video: Fermentation pathways

For a complete list of videos, visit our video library