Multiple Choice
FIGURE 3-5
-Refer to Figure 3-5.Ceteris paribus,if demand were to decrease,this would lead to
A) an increase in equilibrium price and an increase in equilibrium quantity.
B) a decrease in equilibrium price and a decrease in equilibrium quantity.
C) an increase in equilibrium price and a decrease in equilibrium quantity.
D) a decrease in equilibrium price and an increase in equilibrium quantity.
E) no change in equilibrium price or quantity.
Correct Answer:
Verified
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