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The Effect of a Rise in Peoples' Incomes on Equilibrium

Question 26

Multiple Choice

The effect of a rise in peoples' incomes on equilibrium price and quantity of Florida orange juice is to


A) increase equilibrium price and quantity
B) decrease equilibrium price and quantity
C) increase equilibrium price and decrease equilibrium quantity
D) increase equilibrium quantity and decrease equilibrium price
E) decrease equilibrium price and increase equilibrium

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