C) Now, consider what would happen if there is an increase in consumer incomes that increases the market demand for wheat and pushes the equilibrium price for wheat up to $17 per bushel. In this case, how many bushels of wheat will Nicholas produce and sell? How much profit (or loss) will Nicholas make? d) When the price of wheat increased in part c, did the quantity supplied by Nicholas increase, decrease, or stay the same? Does this support or contradict the law of supply. What happened to his profit level