A. change in the quantity demanded as price changes
B. shift in the demand curve
C. movement along a given demand curve
D. change in the price elasticity of demand
Correct Answer:
Option D – change in the price elasticity of demand
Explanation
A normal good is a good that experiences an increase in its demand due to a rise in consumers’ income. In other words, if there’s an increase in wages, demand for normal goods increases while conversely, wage declines or layoffs lead to a reduction in demand.
