Question: Explain how you got your answer. And the logic behind it. 3. 1) Explain the difference between a movement along a demand curve and a

Explain how you got your answer. And the logic behind it.

Explain how you got your answer. And the logic behind it. 3.

3. 1) Explain the difference between a movement along a demand curve and a shift in the entire demand curve. 2) Using a supply and demand model, explain in words what happens to the equilibrium price and quantity for the following goods if income increases, holding all else constant. a. a normal good b. an inferior good

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