The diagram shows the market demand for and supply of good E.
The equilibrium has changed from X to Y.
Which statement is not correct?
1 )
Incomes of consumers may have increased and good E is a normal good.
2 )
The quantity supplied has risen because price has increased.
The quantity supplied has risen because the production of good E has been subsidised.
4 )
The price of good F, which is a substitute for good E, may have risen.
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