Economy, asked by sandhusanveer35, 6 hours ago

Explain with the help of diagrams, the effect of

following on demand curve and why.

(a) Rise in income of the buyer

(b) Fall in price of complementary good​

Answers

Answered by lsen71061
1

Answer:

a.Economic buyer – n : marketing term, typically used in business-to-business markets; describes the individual, decision-maker or group within the customer organization who controls the budget and writes the checks for new product purchases.

b. When the price of a good that complements a good decreases, then the quantity demanded of one increases and the demand for the other increases. When the price of a substitute good decreases, the quantity demanded for that good increases, but the demand for the good that it is being substituted for decreases.

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