Which of the Following Increases the Demand for a Good

question 124

Multiple Choice

Which of the following increases the demand for a good?

• A)A fall in the price of a substitute
• B)An increase in income,assuming the good is an inferior good
• C)The expectation that future income will be higher
• D)A decrease in the number of buyers
• E)A rise in the price of a complement

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Definitions:

Natural Logarithm

The logarithm to the base e, where e is an irrational and transcendental number approximately equal to 2.71828.

Graph

An image that demonstrates the system of interactions or affiliations among two or more entities by employing distinctive visual tools such as dots, lines, and bars.

Logarithm

The power to which a base, often 10 or e, needs to be elevated in order to generate a specific number.

Properties of Logarithms

Rules that simplify the manipulation and solving of logarithmic equations, such as product, quotient, and power rules.