An increase in wages, capital costs and income in the market for a normal good will lead to

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    A decrease in demand for the goods and services in the market, and a higher equilibrium price.
     A decrease in supply and an increase in demand in the market, but we cannot know the direction of the price change without further information.
     A decrease in supply, an increase in demand in the market, and a higher equilibrium price.
     A decrease in supply of the goods and services in the market, and a higher equilibrium price.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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A decrease in supply, an increase in demand in the market, and a higher equilibrium price.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)



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