Suppose there is an increase in the price of tractor fuel. We would expect:
A) an increase in equilibrium price and a decrease in equilibrium quantity of farm products exchanged.
B) a decrease in both equilibrium price and quantity of farm products exchanged.
C) a decrease in equilibrium price and an increase in equilibrium quantity of farm products exchanged.
D) an increase in both equilibrium price and quantity of farm products exchanged.
Correct Answer:
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