Asked by
jessica donnelly
on Dec 11, 2024
Verified
For a typical product, a decrease in consumer income will cause the market demand for the product to
A) decrease, which is a shift to the left of the demand curve.
B) decrease, which is a shift to the right of the demand curve.
C) increase, which is a shift to the left of the demand curve.
D) increase, which is a shift to the right of the demand curve.
Consumer Income
The total earnings of an individual or household from various sources, determining their purchasing power.
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded.
- Learn about the effect of consumer income and preferences on the demand curve.
Verified Answer
BE
Learning Objectives
- Learn about the effect of consumer income and preferences on the demand curve.