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Agriculture Economics QUESTION #11893
Question 1
A rightward shift of the demand curve, holding supply constant, is caused by which of the following?
  • A decrease in the good's own price
  • An increase in consumer income for a normal good✔️
  • An increase in the good's own price
  • An increase in the price of an input used to produce the good
Correct Answer Explanation
A rise in income increases demand for a normal good, shifting the entire demand curve rightward at every price.