Figure 4.4
-Figure 4.4 illustrates the demand for guitars.Assume guitars are a normal good.An increase in income would bring about a movement from:

Question

Quizplus · Accepted Answer

Since guitars are a normal good, an increase in income would lead to an increase in demand at each price level, resulting in a shift of the demand curve to the right, from D₁ to D₂, and a movement along the supply curve from point B to point C.

Figure 4.4 -Figure 4.4 Illustrates the Demand for Guitars.Assume Guitars Are a Are