You are a manager at a firm like Whirlpool in a market with other manufacturers of refrigerators. The adjacent gure shows the initial market demand and supply curves for refrigerators. You know that refrigerators are a normal good and income is increasing, so the demand for refrigerators will change by 100,000 at every price. Using the line drawing tool, show the impact of the increase in consumers' incomes on this market by shifting the appropriate curve and labeling it aptly. Using the point drawing tool, show the initial and new equilibrium points and label them E0, and E1 respectively. Carefully follow the instructions above, and only draw the required objects. Based on your expectations regarding the new equilibrium. your immediate managerial decision would be to |:| the production of refrigerators to adjust your inventory accordingly. Price ($irefrigerator) es en en .4 m a: o o 01 o o o - Market for refrigerators 50 100 150 200 250 300 350 Quantity (thousands of refrigerators per year)