Question: Baseball cards are considered to be a normal good. This means that, as incomes rise, consumers are willing and able to purchase greater quantities of
Baseball cards are considered to be a normal good. This means that, as incomes rise, consumers are willing and able to purchase greater quantities of baseball cards. How would an increase in incomes be modeled in a graph of the supply and demand curves for baseball cards?
- The supply curve would shift to the right.
- The equilibrium point would move upward along the supply curve.
- The supply curve would shift to the left.
- The equilibrium point would move downward along the supply curve.
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