If an Increase in Income Results in Higher Prices for Yachts

question 36

Multiple Choice

If an increase in income results in higher prices for yachts, we can conclude

• A)that yachts are inferior goods.
• B)that there was a decrease in the supply of yachts.
• C)that there was an increase in the supply of yachts.
• D)that yachts are normal goods.
• E)there's no relationship between income and the demand for yachts.

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