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 (more) 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 equilibrium point would move upward along the supply curve because of an increase in demand.

the supply curve would shift to the right.

the supply curve would shift to the left.

the equilibrium point would move downward along the supply curve because of a drop in demand.

Explanation:

For normal goods, higher income raises demand. In supply - demand graph, increased demand moves equilibrium up along supply curve.

Answer:

The equilibrium point would move upward along the supply curve because of an increase in demand.