Suppose that the condition of equilibrium in problem, there is an increase in consumer's income (ceteris paribus) so that a new market demand curve is given byQDx = 140,000 - 20,000Px.

derive the new market demand schedule.

B) Show the new market demand curve(D"x), on the graph of problem #1, (reproduce the whole graph).

C) State the new equilibrium price and the new equilibrium quantity for commodity "X".