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v Question Completion Status: When an economist refers to a product as a normal good, it implies that e a. when incomes rise, demand for that product will fall b. when incomes decline, demand for that product will all c, there are many good substitutes for the product. e d. the product is of poor quality QUESTION 3 Substitute goods are ones in which an increase in the e a. price of one good leads to an increase in the demand for the other good. eb.price of one good leads to a decrease in the demand for the other good. o c. income of consumers leads to an increase in the demand of both goods O d. income of consumers leads to a decrease in the demand of both goods Click Save and Submit to save and submit. Click Save All Answers to save all ansvers

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Answer #1

Ans. 1) b) When Income Decline , Demand for that product will fall.

2) a) price of one good leads to an increase in the demand for the other good.

Best of Luck !! !!

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