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-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.
-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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