Baseball cards are considered to be a normal good. This means that, as incomes rise, consumers are willing and able to purchase greater quantities of baseball cards. How would an increase in incomes be modeled in a graph of the supply and demand curves for baseball cards?(1 point)

Question

Responses

The equilibrium point would move upward along the supply curve.
The equilibrium point would move upward along the supply curve.

The supply curve would shift to the right.
The supply curve would shift to the right.

The equilibrium point would move downward along the supply curve.
The equilibrium point would move downward along the supply curve.

The supply curve would shift to the left.

choose one

Answer 1

The correct response is:

The supply curve would shift to the right.

However, since baseball cards are a normal good, what actually happens is that the demand curve shifts to the right due to an increase in incomes, leading to a higher equilibrium price and quantity. The provided options don't clearly include this, but given the options, the best choice that implies a change in overall market dynamics related to demand (albeit incorrectly stating it in terms of supply) would align with how the market adjusts to changes in income affecting demand for normal goods.