The Following Questions Refer to the graph below. -If the market starts in equilibrium with D₁ and S₁,and equilibrium price and quantity increase to $10 and 65,which of the following could have caused the change? A)An increase in consumer income B)An increase in production costs C)The discovery that Dr.Pepper causes health problems D)A technological advance in Dr.Pepper production E)All of the above

Question

Quizplus · Accepted Answer

An increase in consumer income would shift the demand curve to the right, leading to a higher equilibrium price and quantity.

The Following Questions Refer to the Graph Below