Incomes have risen since the last recession. How did this affect the market for an inferior good like canned soup? Group of answer choices Equilibrium quantity would decrease, but equilibrium price would increase. Equilibrium price would increase, and equilibrium quantity would decrease. Equilibrium price would increase, and equilibrium quantity will also increase. Equilibrium quantity would decrease, and equilibrium price will also decrease.If a shortage exists in a market, we know that the market price is currently Group of answer choices above the equilibrium price, and quantity demanded is greater than quantity supplied. below the equilibrium price, and quantity demanded is greater than quantity supplied. below the equilibrium price, and quantity supplied is greater than quantity demanded. above the equilibrium price, and quantity supplied is greater than quantity demanded