If the economy is growing rapidly and people's incomes are increasing, it would likely affect the market for cheeseburgers as follows:
B. Demand increases and the market price increases.
Explanation:
1. With a growing economy and higher incomes, people tend to have more purchasing power, leading to an increase in the demand for goods and services, including cheeseburgers.
2. As more people can afford to buy cheeseburgers due to their increased incomes, the overall demand for cheeseburgers in the market goes up.
3. An increase in demand usually leads to an increase in market prices as businesses may capitalize on the higher demand to raise prices and maximize profits.
4. Therefore, in this scenario, the market for cheeseburgers would likely experience an increase in both demand and market price due to the growth in the economy and rising incomes of individuals.
