Answer to Question #36519 in Microeconomics for lasisi
Increase in income of buyers of food, ground rent is likely to?
a. increase b. decrease c. will not change d. the result is not predictable
In the context of economic theory, the income effect is the change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service. The relationship between income and the quantity demanded is a positive one, as income increases, so does the quantity of goods and services demanded. If the demand for food increases, the prices for food increase too. Connection with ground rent is possible, but the result is not predictable. So, the right answer is d. the result is not predictable
I'm really satisfied with your service especially with your timing to provide the answers ahead of deadline given.
Plagiarism similarity index showed only 13%, which is acceptable.. Requirement is must be below 20%.
I can't wait for next semester to start in September to engage with you again.
Quality is good and pricing is reasonable.
Just hope I've better results. Prof still marking.