@ PART2 EXAM × https://onlinehiccnhamodnquiz/attemptphp?attempts71 8703 Q eon e

Question

@ PART2 EXAM × https://onlinehiccnhamodnquiz/attemptphp?attempts71 8703 Q eon e arms Flash Q MaaoHW (GDP) I Q EC N212 Test 1: i Q en l01.dh. 24 m1 Flashcard. G in 2010- 100 No results > Options v Price 100 80 F 60 40 20 D. 10 20 30 40 50 60 70 80 90 100 Quantity a market for an normal" good, which of the following statements describes what could have happened? Select one: an increase in quantity supplied o a. Consumer income increased, causing an increase in demand and O b. Consumer income decreased, causing an increase in demand and an increase in supply. O c The price of a substitute good increased, causing an increase in quantity demanded and an increase in d. Consumers expect lower future prices, causing an increase in demand and an ncrease in supply. Question 2 Not yet answered Points out of 1.0 P Flag question Supply .Type here to search

Explanation / Answer

Option A is correct.

This is because an increase in demand implies a shift of the demand curve to the right. Whereas an increase in quantity supplied implies a movement along the supply curve. Also, as the income of the consumer increases, the purchasing power increases and the demand curve shifts to the right.

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