Assume that the market for baseballs is in equilibrium.There is a sudden decrease in income throughout the economy.If all else is held constant,we would expect that:
A) if baseballs are an inferior good, then the demand curve will shift to the left, causing the equilibrium price and quantity to fall.
B) if baseballs are a normal good, then the demand curve will shift to the right, causing the equilibrium price and quantity to rise.
C) if baseballs are an inferior good, then the demand curve will shift to the right, causing the equilibrium price and quantity to fall.
D) if baseballs are a normal good, then the demand curve will shift to the left, causing the equilibrium price and quantity to fall.
E) if baseballs are a normal good, then the demand curve will shift to the left, causing the equilibrium price and quantity to rise.
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