I need the answer as soon as possible 56. Contraction of demand is theresult ofA. O Decrease in the number ofconsumersB. O Increase in the price of thecommodity concernedC. O Increase in the prices of othergoodsD. O Decrease in the income ofpurchasers

To find : Which results in contraction of demand.

Answered: . Contraction of demand is the result…

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. Contraction of demand is the result of

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 3SCQ: Explain all the reasons why a decrease in a products price would lead to an increase in purchases.

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Equilibrium Price and Quantity

Equilibrium refers to a state of balance that comes about because there is equality in all forces.

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I need the answer as soon as possible

56. Contraction of demand is the
result of
A. O Decrease in the number of
consumers
B. O Increase in the price of the
commodity concerned
C. O Increase in the prices of other
goods
D. O Decrease in the income of
purchasers

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