A decrease in the equilibrium price and quantity in a market would be caused by:
A) a decrease in the number of sellers in the market.
B) a decrease in the popularity of the product sold in the market.
C) an increase in the cost of producing the product sold in the market.
D) an increase in the price of a product that competes with the product sold in the market.
Correct Answer:
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Q114: An increase in the equilibrium price and
Q115: A decrease in the equilibrium price and
Q116: A decrease in the equilibrium price and
Q117: An increase in the equilibrium price and
Q118: An increase in the equilibrium price and
Q120: A decrease in the equilibrium price and
Q121: An increase in the equilibrium price and
Q122: An increase in the popularity of a
Q123: A decrease in the number of buyers
Q124: The entry of new sellers into a
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