With a downward sloping demand curve and an upward sloping supply curve for a product, an increase in incomes will:

Name: With a downward sloping demand curve and an upward sloping supply curve for a product, an increase in incomes will:
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Question

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If the product is a normal good, an increase in incomes will shift the demand curve to the right, increasing both equilibrium price and quantity. This is because with higher incomes, consumers are willing and able to pay more for the product and demand more of it.

With a Downward Sloping Demand Curve and an Upward Sloping