The demand for oranges increases while the supply decreases. The equilibrium price of oranges ________, and the equilibrium quantity ________

A) rises; decreases
B) falls; perhaps changes but we can't say if it increases, decreases, or stays the same
C) falls; increases
D) does not change; perhaps changes but we can't say if it increases, decreases, or stays the same
E) rises; perhaps changes but we can't say if it increases, decreases, or stays the same

E

Economics

You might also like to view...

International Reserve assets are comprised of gold, foreign exchange, and IMF special drawing rights

Indicate whether the statement is true or false

Economics

What is the maximum that the firm can charge for the no-name brand wok without losing customers?

a. $50 b. $60 c. $70 d. $100

Economics