Multiple Choice
What would happen to the equilibrium price and quantity of lattés if consumers' incomes rise and lattés are a normal good?
A) Both the equilibrium price and quantity would increase.
B) Both the equilibrium price and quantity would decrease.
C) The equilibrium price would increase,and the equilibrium quantity would decrease.
D) The equilibrium price would decrease,and the equilibrium quantity would increase.
Correct Answer:
Verified
Correct Answer:
Verified
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