Economics · Theory of Demand
In microeconomics, a contraction in demand occurs specifically due to a/an:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Increase in the price of the commodity itself✓
- 2Decrease in the price of the commodity itself
- 3Increase in the consumer's income
- 4Decrease in the consumer's income
Correct answer
Increase in the price of the commodity itself
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