What is the effect of a decrease in the price of potato chips on the market for pretzels?
A) Both equilibrium price and equilibrium quantity rise.
B) Both equilibrium price and equilibrium quantity fall.
C) Equilibrium price rises and equilibrium quantity falls.
D) Equilibrium price falls and equilibrium quantity rises.
E) Equilibrium price and equilibrium quantity remain unchanged.
Correct Answer:
Verified
Q161: A rightward shift of a supply curve
A)represents
Q162: Exhibit 4-4 Q163: If the tea harvest is bad in Q164: An increase in supply will cause equilibrium Q165: The market for chewing gum is competitive Q167: The market for chewing gum is competitive Q168: For a given supply curve, an increase Q169: An increase in demand for chocolate chips Q170: A decrease in supply will cause a(n) Q171: Velcro is becoming more and more popular
A)increase
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