Economy, asked by tvfaisal723, 10 months ago

Explain the effect of change in income on the demand curve with the help of a graph.

Answers

Answered by simmujosan

Explanation:

In general there is a positive relationship between a consumer's income and the amount of the good that they are willing or able to buy. In this relationship as income raises the demand for the product increases and when income decreases, the demand for the same product will also decrease.

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