Suppose consumer income increases. If grass seed is a normal good, the equilibrium price of grass seed will (Hint: use what you already know about equilibrium)(A) Increase(B) Decrease(C) no change

Consumer income has no correlation with the equilibrium price of a product. Thus the price will c. Not change

Explanation:

When the consumer income increases, they will be able to buy a product more if they require it and if they do not require it they are able to spend that money or save it up as they please to.

As equilibrium price of a product is completely dependent upon supply and demand correlation.

The income of the consumer has little to do with it unless a relation between increased income and increased demand is established, there is little evidence to show that there will be a fluctuation in the prices of the grass seed in this case.

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

i would say iii (3) because in order to compare a price you have to use as a reference other near stores because it's its

hope i explained myself