Question: If consumer income increases and wine is a normal good then: a.Both the equilibrium price and the producer surplus will increase b.The equilibrium price will

If consumer income increases and wine is a normal good then:

a.Both the equilibrium price and the producer surplus will increase

b.The equilibrium price will increase and the producer surplus will decrease

c.Both the equilibrium price and the producer surplus will decrease

d.The equilibrium price will decrease and the producer surplus will increase

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