looking at the graph. if there is an increase in income for the households in this market, what is the most…

looking at the graph. if there is an increase in income for the households in this market, what is the most likely result? a the equilibrium price will fall. b the demand curve will shift to the left. c the demand curve will shift to the right. d the supply curve will become a vertical line. e the supply curve will shift to the left.

looking at the graph. if there is an increase in income for the households in this market, what is the most likely result? a the equilibrium price will fall. b the demand curve will shift to the left. c the demand curve will shift to the right. d the supply curve will become a vertical line. e the supply curve will shift to the left.

Answer

Brief Explanations:

In economics, for normal goods, when household income increases, demand for the good rises. This causes the demand curve to shift to the right.

Answer:

C. The demand curve will shift to the right.