Multiple Choice
Suppose consumer income increases.If grass seed is a normal good,the equilibrium price of grass seed will
A) decrease,and producer surplus in the industry will decrease.
B) increase,and producer surplus in the industry will increase.
C) decrease,and producer surplus in the industry will increase.
D) increase,and producer surplus in the industry will decrease.
Correct Answer:
Verified
Correct Answer:
Verified
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