A rise in income will, ceteris paribus, bring about
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
Correct Answer: Option C
Explanation:
All things being equal, a rise in income will lead to a rightward shift in demand. A rightward shift in the demand curve could also be as a result of higher price of a substitute good, lower price of a complement good, etc.Â
All things being equal, a rise in income will lead to a rightward shift in demand. A rightward shift in the demand curve could also be as a result of higher price of a substitute good, lower price of a complement good, etc.Â