Which phrase describes the income effect?

A. the effect of demand and supply on income earned by producers

B. the impact of price on consumers' purchasing ability and decisions

C. the increased income earned by suppliers because of high prices

D. the impact of consumers' income on the supply of a product

Question

Business

Gauge Underwood

3 November, 02:22

Which phrase describes the income effect?

A. the effect of demand and supply on income earned by producers

B. the impact of price on consumers' purchasing ability and decisions

C. the increased income earned by suppliers because of high prices

D. the impact of consumers' income on the supply of a product

+4

Answers (2)

Know the Answer?

Tommy Villegas · Answer 1

The right answer for the question that is being asked and shown above is that: "C. the increased income earned by suppliers because of high prices" The phrase that describes the income effect is that C. the increased income earned by suppliers because of high prices

Alisa Estrada · Answer 2

C. the increased income earned by suppliers because of high prices