Equilibrium price-quantity when there is increase in income

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If salmon is a normal good, what happens to equilibrium price and quantity when there is an increase in income?

A. Equilibrium price increases and equilibrium quantity decreases.

B. Equilibrium price increases and equilibrium quantity increases.

C. Equilibrium price decreases and equilibrium quantity increases.

D. Equilibrium price decreases and equilibrium quantity decreases

Reference no: EM131006309

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