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Economics
?
Which of the following is likely to lead to a fall in the price of good Q which is a normal good?
A rise in the price of good P, a substitute for good Q
A fall in the level of household incomes generally
A fall in the price of good T, a complement to good Q
A belief that the price of good Q is likely to double in the next 3 months
Show Result
Correct
- Your answer is correct.
Wrong
- Your answer is wrong.
Detailed Answer
B Rationale: Generally, if incomes fall, demand will fall.
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