The market demand for a good will decrease ______. a) as income decreases if the good is

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The market demand for a good will decrease ______.

a) as income decreases if the good is an inferior good

b) if the market price of a substitute good increases

c) as income decreases if the good is a normal good

d) if the market price of a complementary good decreases

e) as the number of consumers in the market increases

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Microeconomics

ISBN: 9780077641542

11th Edition

Authors: Stephen Slavin

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Question Posted: Feb 29, 2024 07:01 AM

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The market demand for a good will decrease ______. a) as income decreases if the good is

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The correct answer is b if the market price of a substitute good increases When t...View the full answer

Microeconomics

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