explain with examples the effect of change between price and income on demand
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here is your answer hope it helps ☺️
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The budget constraint framework suggest that when income or price changes, a range of responses are possible. When income rises, households will demand a higher quantity of normal goods, but a lower quantity of inferior goods. ... Also, a higher price for one good can lead to more or less of the other good being demanded.
sakshisikchi01:
can you please give example for this
yes why not
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Answer:Explain with examples the effect of change between price and income on demand.
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