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Which of the following diagrams illustrates the impact of a decrease in income on the demand for a normal good? Diagram A: Graph of a
Which of the following diagrams illustrates the impact of a decrease in income on the demand for a normal good? Diagram A: Graph of a demand curve sloping downward from the top left to the bottom right. The Y axis is labeled P, and the X axis is labeled Q. There are two labeled points on the y-axis, P0 and P1. P0 is below P1 and closest to the point where the x and y axes meet. There are two labeled points on the x-axis, Q0 and Q1. Q1 is to the left of Q0 and closest to the point where the x and y axes meet. There are two points on the demand curve. The point at which P0 and Q0 meet is on the lower right of the demand curve. The point at which P1 and Q1 meet is on the upper left of the demand curve. There is an arrow sloping upward to the left from the Q0 P0 points toward the Q1 P1 point on the demand curve.Diagram B: Graph of a demand curve sloping downward from the top left to the bottom right. The Y-axis is labeled P, and the X-axis is labeled Q. ThereWhich
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