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Economics · May / June 2023 · Paper 12 · Question 9

2281Price changes

The price of a good increases. What could cause this?

  1. AThe cost of raw materials falls.
  2. BThe incomes of consumers rise.
  3. CThe price of a complement rises.
  4. DThe price of a substitute falls.

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Correct answer: B. The incomes of consumers rise.

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