Show the outcome (that is, the effect) of the following events on Demand, Supply and the equilibrium price and quantity.

B. Consider the MARKET FOR THE GOOD X, which can be considered an inferior good. Event: there is an economic expansion and incomes increase.

Indicate any changes (e.g., increase (or ), decrease (or ) , or stays the same):

Demand

Supply

Equilibrium Price

Equilibrium Quantity