If milk is a normal good, then a decrease in consumers’ income will definitely cause A a decrease in the demand for milk. B an increase in the demand for milk. C an increase in the supply of milk. D a decrease in the supply of milk. E an increase in the demand and supply of milk.
If milk is a normal good, then a decrease in consumers’ income will definitely cause A a decrease in the demand for milk. B an increase in the demand for milk. C an increase in the supply of milk. D a decrease in the supply of milk. E an increase in the demand and supply of milk.
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter4: The Market Forces Of Supply And Demand
Section: Chapter Questions
Problem 6CQQ
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If milk is a normal good, then a decrease in consumers’ income will definitely cause
A a decrease in the
B an increase in the demand for milk.
C an increase in the supply of milk.
D a decrease in the supply of milk.
E an increase in the demand and supply of milk.
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