Suppose That the Incomes of Buyers in a Particular Market

question 87

Multiple Choice

Suppose that the incomes of buyers in a particular market for a normal good increase and there is also an increase in input prices. What would we expect to occur in this market?

• A) The equilibrium price would increase, but the impact on the amount sold in the market would be ambiguous.
• B) The equilibrium price would decrease, but the impact on the amount sold in the market would be ambiguous.
• C) Equilibrium quantity would increase, but the impact on equilibrium price would be ambiguous.
• D) Equilibrium quantity would decrease, but the impact on equilibrium price would be ambiguous.

---

Definitions:

Objective Personality

An approach to personality assessment that uses standardized measures to evaluate personality traits without subjective judgment.

Psychopathology

The study of mental disorders, including their symptoms, etiology (causes), and treatment.

Treatment Planning

The process of identifying a client's issues and determining the most effective course of therapy or intervention.

Career Counseling

A process that assists individuals in understanding themselves and the world of work in order to make career, educational, and life decisions.