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-Using the Above Figure, Suppose There Is a Decrease in the Number

Question 417

Multiple Choice

-Using the above figure, suppose there is a decrease in the number of suppliers. Then A) we cannot predict what will happen to equilibrium quantity. B) the equilibrium price will decrease below $25 per dozen roses. C) both the equilibrium price and quantity will increase. D) the equilibrium quantity will decrease below 10 dozen roses.
-Using the above figure, suppose there is a decrease in the number of suppliers. Then


A) we cannot predict what will happen to equilibrium quantity.
B) the equilibrium price will decrease below $25 per dozen roses.
C) both the equilibrium price and quantity will increase.
D) the equilibrium quantity will decrease below 10 dozen roses.

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