vsp1030984 vsp1030984

18-06-2024
Business

Answered

Which of the following will cause the demand curve for product A to shift to the left?

A. Population growth that causes an expansion in the number of persons consuming A
B. An increase in money income if A is a normal good
C. A decrease in the price of complementary product C
D. An increase in money income if A is an inferior good

Answer :

GinnyAnswer GinnyAnswer

18-06-2024

Final answer:

Understanding how income affects demand curves for normal and inferior goods is crucial in economics.

Explanation:

Income elasticity of demand determines the direction of the shift in demand curves for normal and inferior goods. For inferior goods, an increase in income shifts the demand curve to the left, indicating a decrease in demand when income rises. This shift is a result of the negative income elasticity of demand associated with inferior goods.

Learn more about Income elasticity of demand here:

https://brainly.com/question/51078197

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