If Consumers' Incomes Increase at the Same Time There Is

question 71

Multiple Choice

If consumers' incomes increase at the same time there is a decrease in the cost to produce granite counter tops, which of the following is true?

• A)The equilibrium quantity will decrease.
• B)Both the demand and supply curves will shift to the left.
• C)The equilibrium quantity will increase.
• D)The effect on the equilibrium quantity is ambiguous without more information.

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