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-The Figure Illustrates the Demand for and Supply for Jeans

Question 457

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-The figure illustrates the demand for and supply for jeans. Suppose jeans are a normal good and people's incomes increase. At the initial price of $50 for a pair of jeans, after the increase in income the quantity demanded is than the equilibrium quantity and there is a of jeans. A) greater; surplus B) less; surplus C) greater; shortage D) less; shortage
-The figure illustrates the demand for and supply for jeans. Suppose jeans are a normal good and people's incomes increase. At the initial price of $50 for a pair of jeans, after the increase in income the quantity demanded is than the equilibrium quantity and there is a of jeans.


A) greater; surplus
B) less; surplus
C) greater; shortage
D) less; shortage

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