Which of the Following Increases the Demand for a Good

question 20

Multiple Choice

Which of the following increases the demand for a good?

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

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Definitions:

Evaluate

To assess or calculate the value or amount of something through analysis or computation.

Six-Figure Accuracy

A level of precision in numerical calculations or measurements that is accurate to six digits.

Solve

To find an answer or solution to a mathematical problem or equation.

Simplify

The process of making something less complex or easier to understand.