If Good X Is a Normal Good and Its Price

question 22

Multiple Choice

If good X is a normal good and its price rises,then quantity demanded

• A)may or may not fall.
• B)will always fall.
• C)will always rise.
• D)will remain unchanged.

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Definitions:

Net Seller

An entity or individual who sells more of a commodity, security, or other assets than they buy.

Budget Line

A graphical depiction of all possible combinations of two goods that can be purchased with a given income and prices, showing the trade-off between them.

Price Fall

A decrease in the price level of goods or services in the market.

Net Seller

An entity or individual who sells more than they purchase in a given market.