An increase in the equilibrium price and a decrease in the equilibrium 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 good sold in the market.
C) buyers' expectations that the good sold in the market will be unavailable in the future.
D) a decrease in the price of another good that competes with the good sold in the market.
Correct Answer:
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Q116: A decrease in the equilibrium price and
Q117: An increase in the equilibrium price and
Q118: An increase in the equilibrium price and
Q119: A decrease in the equilibrium price and
Q120: A decrease 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
Q125: An increase in the cost of producing
Q126: If supply and demand both increase, then
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