The demand for some good x is estimated to be: ln(Qx) = 10 – 4ln(Px) + 4ln(M) where Qx and Px are the quantity and price of good x and M is income.

The demand for some good x is estimated to be:

ln(Qx) = 10 – 4ln(Px) + 4ln(M)

where Qx and Px are the quantity and price of good x and M is income. What impact does an increase in income(M) have on the equilibrium price and quantity of good x?(Increase, decrease, uncertain). Explain.