Use the following to answer questions :
Figure: Shifts in Demand and Supply III 
-(Figure: Shifts in Demand and Supply III) Look at the figure Shifts in Demand and Supply III. The figure shows how supply and demand might shift in response to specific events. Suppose consumer incomes increase. Which panel BEST describes how this will affect the market for designer boots, a normal good?
Definitions:
Merchandise
Goods to be bought and sold in any type of business.
Operating Expenses
The costs associated with running a business’s core activities on a day-to-day basis, including selling, administrative, and other expenses.
Cash Collections
The process or amount of collecting received payments from customers, typically for goods sold or services rendered.
Depreciation
The systematic allocation of the cost of a tangible asset over its useful life, reflecting the asset's consumption or wear and tear.
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