Suppose the Incomes of Buyers in a Market for a Particular

question 89

Multiple Choice

Suppose the incomes of buyers in a market for a particular normal good decrease and there is also a reduction in input prices.What would we expect to occur in this market?

• A)Equilibrium price would decrease,but the impact on equilibrium quantity would be ambiguous.
• B)Equilibrium price would increase,but the impact on equilibrium quantity would be ambiguous.
• C)Equilibrium quantity would decrease,but the impact on equilibrium price would be ambiguous.
• D)Equilibrium quantity would increase,but the impact on equilibrium price would be ambiguous.

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Definitions:

Argumentative

Having a tendency to engage in or provoke argument and debate, often by presenting opposing views.

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An individual's unique manner of expressing themselves verbally or non-verbally when conveying ideas or feelings.

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Connections and interactions between people, which can range from personal and intimate to formal and professional.

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Companies or institutions that rely heavily on technological advancements and innovations to conduct business and achieve goals.