When the price of a certain product increases, its demand decreases. The decrease in demand leads to a corresponding decrease in consumer confidence in that product as well. However, when the income of consumers is on the rise, it opposes the reduction in demand.
If the statements above are true, which of the following is also true regarding this product?
(A) When the income of consumers and the price of the product both increase, customer confidence will not go down.
(B) The rise in consumer income causes a rise in consumer confidence.
(C) By controlling the price of the product, consumer confidence in it can be maintained.
(D) During a recession, when the demand is very low, consumer confidence is not linked to the price anymore.
(E) Consumer confidence in the product likely decreases more without an increase in consumers’ income than with i
why not a
TheGriffin
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