Solved

An Increase in the Equilibrium Price and a Decrease in the Equilibrium

Question 121

Multiple Choice

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:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents