An increase in income should ?

Related Mcqs:

Which best describes a demand curve ?

A. the quantity consumers would like to buy in an ideal world B. The quantity consumers are willing to sell C. The quantity consumers are willing and able to buy at each and every income all other things unchanged D. The quantity consumers are willing and able to buy each and every price all other … Which best describes a demand curve ?Read More...

Inferior goods have _________ and luxury goods have _________?

A. negative income elasticity income elasticity greater than 1 B. income elasticity greater than 1, negative income elasticities C. Positive income elasticities, negative income elasticities D. None of the above...

When the decrease in the price of one good causes the demand for another good to decrease, the goods are_________?

A. complements B. substitutes C. inferior D. nromal...

An increase in the costs of production will ?

A. Shift demand outwards B. Shift demand inwards C. Shift supply outwards so more is supplied at each and every price, all other things unchanged D. Shift supply inwards...

The extra utility from consuming one more unit of a good is called ?

A. Marginal utility B. Additional utility C. Surplus utility D. Bonus utility...