Question: Can you help me understand this answer? What is the supply? Is it the income? 1. Joshua's income increases, while federal taxes increase; therefore, please

Can you help me understand this answer? What is the supply?

Can you help me understand this answer? What is the supply? Is it the income?

1. Joshua's income increases, while federal taxes increase; therefore, please illustrate by constructing a supply and demand graph, the direction in which the curves will shift and state the new equilibrium price and quantity; for example, state whether price and quantity increased, decreased, or are indeterminate. Please explain your rationale based on the determinants of demand and supply.

Is it the income?1. Joshua's income increases, while federal taxes increase; therefore,

Price Quantity

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