Question

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Increase in income will lead to which of the following ?

• A. Left Shift in demand curve
• B. Right shift in demand curve
• C. Left Shift in supply curve
• D. Right shift in Supply curve

Answer 1

The correct option is B Right shift in demand curve

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> Increase in income causes a rightward shift in the demand curve, so that at a given price of a product, the quantity demanded will be higher.