Quantity In the graph above, suppose equilibrium is at point A. What would cause equilibrium to shift to point D? A) An increase in the number of buyers. В An incrase in firms's taxes. (c) A decrease in consumers's income. C D) A change in technology. E) A decrease in the number of firms.

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Normal and Inferior Goods

Understanding a normal good and an inferior good is important because it tells us what will happen to demand different products during booms and recessions.