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If Tortilla Chips Are a Normal Good, What Happens to Equilibrium

Question 101

Essay

If tortilla chips are a normal good, what happens to equilibrium price and quantity when there is an increase in income?
A.Equilibrium price decreases and equilibrium quantity increases.
B.Equilibrium price decreases and equilibrium quantity decreases.
C.Equilibrium price increases and equilibrium quantity increases.
D.Equilibrium price increases and equilibrium quantity decreases.

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