(g) Using the diagram below, draw the likely effects of an increase in income on the...

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(g) Using the diagram below, draw the likely effects of an increase in income on the equilibrium price and quantity for wireless headphones. Label the new curve, the new equilibrium price and quantity. Price 4 Pe D S Q₂ Figure 1 S D Quantity (3) (g) Using the diagram below, draw the likely effects of an increase in income on the equilibrium price and quantity for wireless headphones. Label the new curve, the new equilibrium price and quantity. Price 4 Pe D S Q₂ Figure 1 S D Quantity (3)

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Answer According to the given data An increase income effects on the equilibrium price and quantity ... View the full answer