Question 54
MediumOriginal questionWhich pair is correctly matched?
Show the answer and explanation
CorrectNot quiteAnswer D
Correct answer: D
Explanation
A rise in own price moves buyers up the curve: contraction.
Higher income raises a normal good's demand (increase); a cheaper substitute lowers it (decrease); own-price fall is an extension.
- Concept
- Terms of change in demand
- Typical timeTypical
- 70 s
- Your timeYours
- —
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