What will happen to the equilibrium quantity and price of salmon in a competitive market when there is an equal decrease in demand and supply?
A) Equilibrium quantity and price will both increase.
B) Equilibrium quantity and price will both decrease.
C) Equilibrium quantity will decrease and equilibrium price will stay the same.
D) Equilibrium quantity will stay the same and equilibrium price will increase.
Correct Answer:
Verified
Q27: If the demand for electronic readers and
Q28: An increase in both supply and demand
Q31: If there is a surplus in a
Q36: A price ceiling imposed by the government
Q39: If the decrease in supply is less
Q307: A television station reports that the price
Q309: In the dollar-euro foreign exchange market, if
Q310: In the dollar-yen foreign exchange market, if
Q313: Assume that the graphs show a competitive
Q316: If there's a huge increase in the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents