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anyanavicka [17]
3 years ago
9

If an increase in income results in a leftward shift of the demand curve for product X, then X is a (anGroup of answer choices(a

)status good.(b)normal good.(c)inferior good.(d)prestige product.(e)weird product.
Business
1 answer:
serg [7]3 years ago
4 0

Answer:

c)inferior good.

Explanation:

A shift in demand occurs when other factors apart from price cause a change in demand.

In this instance, demand is shifting as a result of an increase in income.

If income increases and demand for the good shifts to the right, it means less of the good is being demanded. This implies that the good is inferior and when people have more money they forgoe it for more superior goods.

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As the company recently changed its business model from just selling explosives to managing an entire blast in a quarry. This customer-solution-based approach to the sale of explosives is an example of systems selling.

<h3><u>What is a Business Model?</u></h3>
  • The strategy a business uses to turn a profit is referred to as its business model. It lists any estimated costs as well as the goods or services the company intends to sell, as well as its chosen target clientele.
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Know more about Business Model with the help of the given link:

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