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​ ​-Refer to Exhibit 3-2.Suppose Equilibrium Is at Point C.Something Then

Question 56

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  ​ ​ -Refer to Exhibit 3-2.Suppose equilibrium is at point C.Something then changes and equilibrium becomes point B.Which of the following is consistent with the change in equilibrium from point C to B (assuming that good X is a normal good) ? A)  There was an increase in resource prices and income stayed constant. B)  There was a decrease in resource prices and income stayed constant. C)  There was an increase in resource prices and income decreased. D)  There was a decrease in resource prices and income increased.

-Refer to Exhibit 3-2.Suppose equilibrium is at point C.Something then changes and equilibrium becomes point B.Which of the following is consistent with the change in equilibrium from point C to B (assuming that good X is a normal good) ?


A) There was an increase in resource prices and income stayed constant.
B) There was a decrease in resource prices and income stayed constant.
C) There was an increase in resource prices and income decreased.
D) There was a decrease in resource prices and income increased.

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