Question : If a consumer's income rises or the price of a complementary good falls, the-
Option 1: The product's demand curve shifts to the right.
Option 2: The product's demand curve shifts to the left.
Option 3: The product's supply curve shifts to the right.
Option 4: The product's supply curve shifts to the left.
Answer (1)
10th Jan, 2024
Correct Answer: The product's demand curve shifts to the right.
Solution :
If the price of one of its complements rises, the demand for the good decreases. The demand for a normal good increases if income increases. Hence it will shift rightward.
So option a is the correct answer.
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