If prices rise but income stays the same, what is the effect on the quantity demanded?

a. quantity demanded increases.

b. fewer goods are bought.

c. more goods are bought.

d. demand stays the same.

Question

Business

Elyse Lopez

3 November, 04:21

If prices rise but income stays the same, what is the effect on the quantity demanded?

a. quantity demanded increases.

b. fewer goods are bought.

c. more goods are bought.

d. demand stays the same.

+1

Answers (2)

Know the Answer?

Clayton Rivera · Answer 1

Clayton Rivera 3 November, 07:01

0

The answer would be B).

Gavyn · Answer 2

The correct answer to this question is letter "b. fewer goods are bought." If prices rise but income stays the same, the effect on the quantity demanded is that fewer goods are bought. Since the increase in price cannot be accommodated by the same amount of income.

If prices rise but income stays the same, what is the effect on the quantity demanded?a. quantity demanded increases.b. fewer goods are bought.c. more goods are bought.d. demand stays the same.

If prices rise but income stays the same, what is the effect on the quantity demanded?

a. quantity demanded increases.

b. fewer goods are bought.

c. more goods are bought.

d. demand stays the same.