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Suppose That Both the Supply of IPads and the Demand

Question 148

Multiple Choice

Suppose that both the supply of iPads and the demand for iPads decrease. One can predict that the:


A) equilibrium price will rise, but the change in equilibrium quantity is uncertain.
B) equilibrium price and quantity will fall.
C) equilibrium price and quantity will rise.
D) equilibrium quantity will fall, but the change in equilibrium price is uncertain.

Correct Answer:

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