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Answer to Question #54218 in Macroeconomics for Ansh

Question #54218
What happens to demand when the following changes occur?
a. The price of the commodity falls.
b. Income increases and the commodity is normal.
c. Income increases and the commodity is inferior.
d. The price of a substitute good increases.
e. The price of a substitute good decreases.
f. The price of a complement good increases.
g. The price of a complement good decreases.
Expert's answer
a. The price of the commodity falls - demand increases.
b. Income increases and the commodity is normal - demand increases.
c. Income increases and the commodity is inferior - demand falls.
d. The price of a substitute good increases - demand increases.
e. The price of a substitute good decreases - demand decreases.
f. The price of a complement good increases - demand decreases.
g. The price of a complement good decreases - demand increases.

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