A good is a normal good if the consumer buys less of it when
A)his income falls.
B)the price of the good rises.
C)the price of a substitute good falls.
D)his income rises.

Name: A good is a normal good if the consumer buys less of it when A)his income falls. B)the price of the good rises. C)the price of a substitute good falls. D)his income rises.
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Question

Quizplus · Accepted Answer

A good is considered a normal good if the consumer buys less of it when their income falls, as normal goods have a positive income elasticity of demand.

A Good Is a Normal Good If the Consumer Buys