In case of Normal goods, when the price of any good increases than before, its quantity demand
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demand will decrease as people tend to buy cheaper and better goods
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In microeconomics, the income effect is the change in demand for a good or service caused by a change in a consumer's purchasing power resulting from a change in real income. This change can be the result of a rise in wages etc., or because existing income is freed up by a decrease or increase in the price of a good that money is being spent on.
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