Suppose we have a given demand function for a certain normal good. Which of the following factors
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Question:
Suppose we have a given demand function for a certain normal good. Which of the following factors could have shifted the demand curve to the left (reduced demand)?
An increase in the rate of value-added tax (VAT).
A fall in consumer income
A fall in the price of goods that are complementary to that good.
A fall in the price of substitute goods in relation to that good.
Choose one or more answers.
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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