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hiusy98 hiusy98
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7 years ago
Assume the income of consumers of good X (a normal good) increases. What occurs at the initial equilibrium price for X that signals market participants that the equilibrium price must change?
A) A surplus is created by an increase in supply.
B) A surplus is created by a decrease in demand.
C) A shortage is created by an increase in demand.
D) A shortage is created by a decrease in supply.
Textbook 
Economics for Managers

Economics for Managers


Edition: 3rd
Author:
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toogootoogoo
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hiusy98 Author
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7 years ago
Project is complete now, thank you for your expertise!
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