A rise in income will, ceteris paribus, bring about

Economics

JAMB 2012

A. a movement along the demand curve
B. a leftward shift of the demand curve
C. a rightward shift of the demand curve
D. no effect on the demand curve

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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.

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A rise in income will, ceteris paribus, bring about

Correct Answer: Option C

Explanation

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