If the good in the above figure is a normal good and income ...

[bobbysung]

If the good in the above figure is a normal good and income rises, then the new equilibrium quantity
 
  A) is less than 300 units.
  B) is 300 units.
  C) is more than 300 units.
  D) could be less than, equal to, or more than 300 units.

Question 2

Refer to the scenario above. Tom should submit a bid of ________.
 
  A) 150
  B) 250
  C) 112.50
  D) 200

[jamesnevil303]

Answer to Question 1

C

Answer to Question 2

A