Answer to Question #265770 in Microeconomics for farouk

Question #265770

Good X is a normal good if an increase in income leads to


a. an increase in the demand for good X.


b. a decrease in the supply for good X.


c. an increase in the supply for good X.


d. a decrease in the demand for good X.


1
Expert's answer
2021-11-14T17:42:48-0500

Solution:

The correct answer is a. an increase in the demand for good X.

 

Normal goods are a type of goods whose demand shows a direct relationship with a consumer's income

a normal good is a type of a good which experiences an increase in demand due to an increase in consumer’s income. 


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