With a Given Upward-Sloping Supply Curve for Sirloin Steak (A

Multiple Choice

With a given upward-sloping supply curve for sirloin steak (a normal good) ,a rise in household income will cause the

A) equilibrium price and equilibrium quantity to both increase.
B) equilibrium price to increase and equilibrium quantity to decrease.
C) equilibrium price and equilibrium quantity to both decrease.
D) equilibrium price to decrease and equilibrium quantity to increase.
E) equilibrium price to increase and equilibrium quantity to remain constant.