The market equilibrium price and equilibrium quantity have decreased. This could be happening because
A.technology is rapidly increasing
B. Factor prices are rising
C.income has fallen for a normal good
Answer: C.income has fallen for a normal good
The market equilibrium price and equilibrium quantity have decreased. This could be happening because
A.technology is rapidly increasing
B. Factor prices are rising
C.income has fallen for a normal good
Answer: C.income has fallen for a normal good