-The figure above shows the market for digital cameras.If consumers' incomes rise and a digital camera is a normal good,the equilibrium quantity of digital cameras will be ________ thousand cameras and the price of a digital camera will be ________.
A) less than 300; less than $300
B) greater than 300; less than $300
C) 300; greater than $300
D) greater than 300; greater than $300

Question

-The figure above shows the market for digital cameras.If consumers' incomes rise and a digital camera is a normal good,the equilibrium quantity of digital cameras will be ________ thousand cameras and the price of a digital camera will be ________.
A) less than 300; less than $300 
B) greater than 300; less than $300 
C) 300; greater than $300 
D) greater than 300; greater than $300

Quizplus · Accepted Answer

When consumers' incomes rise and the good is normal, demand increases, leading to a higher equilibrium quantity and price.

-The Figure Above Shows the Market for Digital Cameras