An increase in the price of wheat, an important ingredient in the production of bread, combined with an increase in the number of people consuming bread, will result in which of the following changes in the bread market?
A.Both the equilibrium price and quantity will increase.
B.Equilibrium quantity will decrease, but equilibrium price may decrease, increase, or stay the same.
C.Both the equilibrium price and quantity will decrease.
D.Equilibrium price will increase, but equilibrium quantity may decrease, increase, or stay the same.

Question

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The Answer of An increase in the price of wheat, an important ingredient in the production of bread, combined with an increase in the number of people consuming bread, will result in which of the following changes in the bread market?
A.Both the equilibrium price and quantity will increase.
B.Equilibrium quantity will decrease, but equilibrium price may decrease, increase, or stay the same.
C.Both the equilibrium price and quantity will decrease.
D.Equilibrium price will increase, but equilibrium quantity may decrease, increase, or stay the same.

An Increase in the Price of Wheat, an Important Ingredient