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What would happen to the equilibrium price and quantity for a normal good if consumer incomes decreased? a. The equilibrium price would decrease, and the
What would happen to the equilibrium price and quantity for a normal good if consumer incomes decreased?
a. The equilibrium price would decrease, and the equilibrium quantity would decrease.
b. The equilibrium price would decrease, and the equilibrium quantity would increase.
c. The equilibrium price would increase, and the equilibrium quantity would decrease.
d. The equilibrium price would increase, and the equilibrium quantity would increase.
e. There would be no change in either equilibrium price or quantity.
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