Suppose that demand for black-market koala skins decreases AND supply decreases because of falling koala populations.What would happen in the black market for koala skins?
A) the effect on equilibrium price would be ambiguous
B) both equilibrium price and quantity would increase
C) both equilibrium price and quantity would decrease
D) equilibrium price would increase but the impact on equilibrium quantity would be ambiguous
Correct Answer:
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Q161: Graph 4-6 Q162: A shift in the supply curve is Q163: Graph 4-6 Q164: Whenever the price of a good changes Q165: When the price is higher than the Q167: Suppose that demand decreases AND supply decreases.What Q168: Comparative statics involves: Q169: Suppose that the incomes of buyers in Q170: At the equilibrium price: Q171: A shortage is:
A)comparing the old equilibrium and
A)there can still be
A)a situation in which quantity
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