-Refer to Exhibit 3-2.Suppose equilibrium is at point B.Something then changes and equilibrium becomes point C.Which of the following is consistent with the change in equilibrium from point B to C (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 an increase in resource prices and income increased.

Question

​
​
-Refer to Exhibit 3-2.Suppose equilibrium is at point B.Something then changes and equilibrium becomes point C.Which of the following is consistent with the change in equilibrium from point B to C (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 an increase in resource prices and income increased.

Quizplus · Accepted Answer

The Answer of  ​
​
-Refer to Exhibit 3-2.Suppose equilibrium is at point B.Something then changes and equilibrium becomes point C.Which of the following is consistent with the change in equilibrium from point B to C (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 an increase in resource prices and income increased.

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

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