Question

Baseball cards are considered to be a normal good. This means that, as incomes rise, consumers are willing and able to purchase greater quantities of baseball cards. How would an increase in incomes be modeled in a graph of the supply and demand curves for baseball cards?(1 point) The supply curve would shift to the left. The supply curve would shift to the left. The equilibrium point would move upward along the supply curve. The equilibrium point would move upward along the supply curve. The equilibrium point would move downward along the supply curve. The equilibrium point would move downward along the supply curve. The supply curve would shift to the right.Baseball cards are considered to be a normal good. This means that, as incomes rise, consumers are willing and able to purchase greater quantities of baseball cards. How would an increase in incomes be modeled in a graph of the supply and demand curves for baseball cards?(1 point) The supply curve would shift to the left. The supply curve would shift to the left. The equilibrium point would move upward along the supply curve. The equilibrium point would move upward along the supply curve. The equilibrium point would move downward along the supply curve. The equilibrium point would move downward along the supply curve. The supply curve would shift to the right.

Answer 1

The equilibrium point would move upward along the supply curve.

An increase in incomes will shift the demand curve to the right, not the supply curve.