How would an increase in income affect the equilibrium prices and quantity demanded of bus rides?

An increase in income typically leads to an increase in the demand for normal goods, including bus rides, as people can afford to use public transportation more often or may choose it over other, more expensive options. This rise in demand would shift the demand curve to the right, resulting in higher equilibrium prices and an increased quantity of bus rides demanded. However, if bus rides are considered inferior goods, the effect could be the opposite, leading to a decrease in demand, lower prices, and a reduced quantity demanded.