-Refer to Exhibit 3-2.Suppose equilibrium is at point C.Something then changes and equilibrium becomes point B.Which of the following is consistent with the change in equilibrium from point C to B (assuming that good X is a normal good)?
A) There was an increase in resource prices and income stayed constant.
B) There was a decrease in resource prices and income stayed constant.
C) There was an increase in resource prices and income decreased.
D) There was a decrease in resource prices and income increased.

Question

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-Refer to Exhibit 3-2.Suppose equilibrium is at point C.Something then changes and equilibrium becomes point B.Which of the following is consistent with the change in equilibrium from point C to B (assuming that good X is a normal good)?
A) There was an increase in resource prices and income stayed constant. 
B) There was a decrease in resource prices and income stayed constant. 
C) There was an increase in resource prices and income decreased. 
D) There was a decrease in resource prices and income increased.

Quizplus · Accepted Answer

The Answer of  ​
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-Refer to Exhibit 3-2.Suppose equilibrium is at point C.Something then changes and equilibrium becomes point B.Which of the following is consistent with the change in equilibrium from point C to B (assuming that good X is a normal good)?
A) There was an increase in resource prices and income stayed constant. 
B) There was a decrease in resource prices and income stayed constant. 
C) There was an increase in resource prices and income decreased. 
D) There was a decrease in resource prices and income increased.

​ ​-Refer to Exhibit 3-2.Suppose Equilibrium Is at Point C.Something Then

-Refer to Exhibit 3-2.Suppose Equilibrium Is at Point C.Something Then