Discover the answers to your questions at Westonci.ca, where experts share their knowledge and insights with you. Ask your questions and receive accurate answers from professionals with extensive experience in various fields on our platform. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.
Sagot :
Answer:
They will be less likely to rent an apartment and more likely to own a home. A product whose demand falls when income rises, and vice versa, is called an inferior good. In other words, when income increases, the demand curve shifts to the left.
For normal economic goods, when real consumer income rises, consumers will demand a greater quantity of goods for purchase. ... When nominal income increases without any change to prices, this means consumers can purchase more goods at the same price, and for most goods, consumers will demand more.
Explanation:
Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Discover more at Westonci.ca. Return for the latest expert answers and updates on various topics.
