In Year 1 the Average Price of X Is $10,and

question 196

Multiple Choice

In year 1 the average price of X is $10,and in year 2 the average price of X is $23.Still,consumers buy more units of X in year 2 than in year 1.It follows that

• A) the law of supply does not hold for good X.
• B) demand for good X could be higher in year 2 than in year 1.
• C) supply of good X could be less in year 2 than in year 1.
• D) good X buyers have received an increase in income between year 1 and year 2, and good X is a normal good.
• E) b and d

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