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13. What would happen to the equilibrium price and quantity of smartphones if consumers' incomes rise and smartphones are a normal good? a. Both
13. What would happen to the equilibrium price and quantity of smartphones if consumers' incomes rise and smartphones are a normal good? a. Both the equilibrium price and quantity would increase. b. Both the equilibrium price and quantity would decrease. C. d. The equilibrium price would increase, and the equilibrium quantity would decrease. The equilibrium price would decrease, and the equilibrium quantity would increase.
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