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34kurt
3 years ago
12

Consumers' incomes decrease, which causes a decrease in demand. This causes the equilibrium price to _____.

Business
2 answers:
Cerrena [4.2K]3 years ago
6 0

The answer is: It causes the equilibrium price to decrease in order to increase the demand.

In a situation where consumer's income decrease and the price of the product remain the same, the demand for the product would decrease since there would be less consumers that can afford to buy the product.

For the demand to increase, the equilibrium price of the product need to be decreased so there would be more consumers that can afford it.

Readme [11.4K]3 years ago
6 0
It causes the equilibrium price to <span>decrease in order to increase the demand.</span>
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