Asked by Julia Kochman on Jun 26, 2024
Verified
The demand curve will shift to the _____ and the prices will _____,if buyers' incomes increase.
A) right; rise
B) left; fall
C) right; fall
D) left; rise
Buyers' Incomes
The total earnings or revenue of purchasers, which directly impacts their purchasing power and demand for goods and services in the market.
- Understand the effect of variations in earnings and the costs of associated products on consumer demand.
Verified Answer
JK
Jasleen Kaur ParmarJun 28, 2024
Final Answer :
A
Explanation :
When buyers' incomes increase, their purchasing power increases, leading to a higher demand for goods and services. This causes the demand curve to shift to the right, and as a result, prices typically rise due to increased demand.
Learning Objectives
- Understand the effect of variations in earnings and the costs of associated products on consumer demand.