Answer
Rising incomes if the product is a normal good.
Work Step by Step
The demand curve will shift out and to the right, which will increase the price from P3 to P5, assuming that supply curve remains unchanged.
Economics: Principles, Problems, and Policies, 19th Edition
by McConnell, Campbell R.; Brue, Stanley L.; Flynn, Sean M.
Published by
McGraw-Hill Education
ISBN 10:
0073511447
ISBN 13:
978-0-07351-144-3
Chapter 9 - Pure Competition in the Long Run - Quick Quiz for Figure 9.6 - Page 187: 1
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