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1.Explain the impact of a rise in income on the market for CDs, if CDs are a normal good. 2.When is the market in equilibrium?

1.Explain the impact of a rise in income on the market for CDs, if CDs are a normal good.

2.When is the market in equilibrium?

3.How will the market adjust if price is below the market equilibrium price?

4.Explain the impact on the solar panel market if the housing industry was to adopt the

latest technology (ceteris paribus).

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