Suppose there is unseasonably stormy weather in a summer resort town. We can expect demand for hotels to shift _____ and the equilibrium price for a room to _____.

Question

Quizplus · Accepted Answer

Unseasonably stormy weather would likely discourage people from traveling to the summer resort town, leading to a decrease in demand for hotel rooms. This shift in demand to the left would result in a decrease in the equilibrium price for a room.

Suppose There Is Unseasonably Stormy Weather in a Summer Resort