(Choose 1 answer)
(17225) Pens are normal goods. What will happen to the equilibrium price of pens if the price of pencils rises, consumers experience an increase in income, writing in ink becomes fashionable, people expect the price of pens to rise in the near future, the population increases, fewer firms manufacture pens, and the wages of pen-makers increase?
A. Price will rise.
B. Price will fall.
C. Price will stay exactly the same.
D. The price change will be ambiguous.
E37
