Ask Question
BusinessBusiness
13 September, 10:43

When prices rise, what happens to income? It goes down. It buys less. It is used to buy different things. It rises to meet prices.

+5
Answers (2)
  1. 13 September, 11:00
    0
    It buys less, based on the information we can't assume income will rise
  2. 13 September, 12:18
    0
    If goods are used together, increased demand for one will increase demand for the other ... How does the price range affect the elasticity of demand for a product? Demand for a good can be inelastic at a low price, but elastic at a high price.

    Explanation:

    i look it up ok
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “When prices rise, what happens to income? It goes down. It buys less. It is used to buy different things. It rises to meet prices. ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Why is the net profit margin expressed as a percentage?
Answers (1)
If the same purchase and sale transactions are recorded using both periodic and perpetual inventory valuation, which method will provide the same ending inventory and value of COGS under both periodic and perpetual inventory valuation?
Answers (1)
A software company such as Lynda or Khan Academy offers programs to increase individual compentency or mastery with a variety of subjects. Their product offerings are meeting which psychological need according to Maslow's Hierarchy of Needs?
Answers (2)
SY manufacturer (SYM) is producing T-shirt in three colors: blue, red, and white. The monthly demand for each color is 3000 units. Each shirt requires 0.5 pound of raw cotton that is imported from LuftGeshfet-Textile (LGT) Company in Brazil.
Answers (1)
At p1y1, if taxes decrease then consumer spending will decrease and ad will shift right to long-run equilibrium. decrease and ad will shift left to long-run equilibrium. increase and ad will shift right to long-run equilibrium.
Answers (1)
New Questions in Business
Diane had a plan to improve her responsibility. in order to understand if she has met her goal, she must A. formulate a new goal B. record her progress C. accomplish harder tasks D. ask others for their opinions
Answers (1)
Olivia's employer deducts an amount from her paycheck for the Medicare program. What type of withholding is being deducted from Olivia's paycheck? A) tax exemption B) local withholding C) state withholding D) Social Security withholding
Answers (1)
A popular variation of the accounts receivable turnover is the a. credit risk ratio. b. concentration of credit risk. c. bad debts ratio. d. average collection period.
Answers (1)
When Japan exports goods to the United States, which Country shows a balance of payments credit
Answers (1)
Love Company's accounting records show an after-closing balance of $42,100 in its Retained Earnings account on December 31, 2018.
Answers (1)
Home » Business » When prices rise, what happens to income? It goes down. It buys less. It is used to buy different things. It rises to meet prices.
Sign Up Forgot Password?