Assuming that the demand and supply of a good both decreased by the same amount, the new equilibrium would represent:
a. an increase in price and an increase in quantity exchanged.
b. no change in price and an increase in quantity exchanged.
c. a decrease in price and a decrease in quantity exchanged.
d. no change in price, and decrease in quantity exchanged.
d
Economics
You might also like to view...
Suppose the price elasticity of demand for bouquets of flowers is 4.0. You are charging $8 per bouquet. If you want to increase the quantity of bouquets you sell by 20 percent, what price should you charge?
What will be an ideal response?
Economics
A person whose house has declined in value as a result of a nearby factory's fumes is a third party to the market associated with the factory
Indicate whether the statement is true or false
Economics