contestada

If a product's demand rises as income rises, ceteris paribus, the product is

a) an inferior good

b) not enough information

c) a notmal good

d) outside of the market equilibrium ​

Respuesta :

Tundexi

Generally, when a product's demand rises as income rises, ceteris paribus, the product is outside of the market equilibrium ​

Market equilibrium occurs when a market price of quantity demanded is equal to the quantity supplied

Hence, when a product's demand rises as income rises, ceteris paribus, the product is outside of the market equilibrium ​

In conclusion, the Option D is correct.

Read more about Market equilibrium

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