Answer of this question is Income effect
Because income effect says when price of any product decreases then it allows to the consumer to purchase better product on a same price product .
For example, if the price of a Apple laptop increases relative to a consumer's income, it may feel like they cannot afford other similar goods, which might even reduce demand for a substitute, like a Chromebook, even if the Chromebook price remains the same. A consumer may opt to purchase more expensive goods in lesser quantities or cheaper goods in higher quantities.
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ts Your quiz may not get submitted properly if you exceed the time limit. Also, if possible, use the Your quiz may not get submitted propertly If you exceed the time limit. Also, if possble,use the Grades Syllabus Course Evalua- same computer that you've been using for your class. D Question 15 3 pts tions Chat Collaborations Time Run Attempt du 15 Minut A rightward (an outward) shift of a nation's production possibilities curve could be caused by: O a...
Your quiz may not get submitted properly if you exceed the time limit. Also,if possible, use the Grades Syllabus Course Evalua- tions Chat Collaborations D Question 1 3 pts A model (or theory);: is a general statement about the causal relationship between variables based on facts. O O helps explain and predict the relationship between variables. O when expressed as a downward tnegatively) sloping graph implies an inverse relationship between the variables O All of the choices are correct ch...
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Your quiz may not get submitted properly if you exceed the time limit. Also, if possible, use the same computer that you've been using for your class. valua- DQuestion 23 3 pts Which of the following is least likely to result from rent controls set below tions the equilibrium price for rental housing? O The supply of rental housing will increase rapidly O Shortages and black markets will result O People will demand more apartments than are available O The...