When the demand for a good increases owing to an increase in income, it means that

U_Martins1

10 years ago

This is f**king wrong! Only change in price brings about changes in quantity demanded.



Correct answer is D

joychizzy1

3 months ago

M

Chimafrank65

3 years ago

The answer is inflation has taken place
Such inflation is known as Demand pull inflation, where there is an increase in demand as a result of high supply of money (increase in wage), without a corresponding increase in production or supply of goods

So the answer is C