-Using the Above Figure, Suppose That Roses Are a Normal

question 161

Multiple Choice

-Using the above figure, suppose that roses are a normal good. If there is an increase in income

• A) the equilibrium price will rise above $25 per dozen roses.
• B) the equilibrium quantity will decrease below 10 dozen roses.
• C) we cannot predict what will happen to the equilibrium price.
• D) we cannot predict what will happen to the equilibrium quantity.

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