Explain, with the aid of a graph, the effect of an increase in income on the equilibrium price and quantity of wine if wine is an inferior good.   Please explain the law od demand as well

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Q: Explain, with the aid of a graph, the effect of an increase in income on the equilibrium price and…

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A: The graph shown in below:

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A: Hi, thank you for the question. As per our Honor code, we are allowed to attempt only the first…

Q: Part f and i

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A: Answer to the question is as follows :