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Suppose the following happens in the market for headphones (assuming it is a normal good): (1) the consumer's income increases, and (2) the costs required
Suppose the following happens in the market for headphones (assuming it is a normal good): (1) the consumer's income increases, and (2) the costs required to produce headphones has increased as well. What will happen to equilibrium in the market for headphones? Group of answer choices The equilibrium price decreases for sure, but the equilibrium quantity could either increase or decrease The equilibrium price could either increase or decrease, but the equilibrium quantity increases for sure The equilibrium price could either increase or decrease, but the equilibrium quantity decreases for sure The equilibrium price increases for sure, but the equilibrium quantity could either increase or decrease
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