Consider a competitive market for a product X that is in its long run equilibrium. Suppose that this is a normal good, and that consumer's income increases and the increase is expected to be permanent. Assuming that the prices of the inputs remain constant, then.
A) the quantity demanded of X will decrease in the short run and the number of firms in the industry will go up in the long run
B) the price of X will increase in the short run and the number of firms in the industry will go up in the long run
C) the price of X will decrease in the short run and the number of firms in the industry will go down in the long run
D) None of the above