Assume the price of Coca-Cola increases. As a result, your real income decreases and you decrease the quantity of Coca-Cola purchased each month. This is an example of the:

Question

asked Nov 14, 2021 187k views

1 Answer

← Prev Question Next Question →

Related questions

asked Aug 26, 2024 116k views

Henrique needed money for graduate school tuition. He called his broker and asked her to sell all 2,500 of her Coca-Cola (KO) shares on Wednesday as soon as the trading price hit $44 per share. Henrique

Jhong asked Aug 26, 2024

by Jhong

8.6k points

1 answer

1 vote

116k views

asked Jul 20, 2024 144k views

Coca-cola drink is a aqueous or liquid phase and what is aqueous solution?

Webduvet asked Jul 20, 2024

by Webduvet

8.2k points

1 answer

1 vote

144k views

asked Mar 7, 2024 82.0k views

Coca-cola marketing mix

Marteng asked Mar 7, 2024

by Marteng

8.7k points

1 answer

3 votes

82.0k views

Ask a Question

Dooms · Answer 1 · 2021-11-18T20:16:12+0000

Answer:

income effect

Step-by-step explanation:

Income effect measures the change in quantity demanded of a good as a result of a change in real income or purchasing power.

As a result of the rise in price of the drink, real income fell and this led to a fall in the quantity demanded of the drink. This is the income effect.

Please log in or register to add a comment.

Please log in or register to answer this question.

1 Answer

Please log in or register to add a comment.

Related questions

Assume the price of Coca-Cola increases. As a result, your real income decreases and you decrease the quantity of Coca-Cola purchased each month. This is an example of the:

Categories

Other Questions