-Refer to the above figure for the market of Cheerios. Which diagram depicts the effect of an increase in the price of Cheerios?
A) A
B) B
C) neither graph
D) both graphs

Question

-Refer to the above figure for the market of Cheerios. Which diagram depicts the effect of an increase in the price of Cheerios?
A) A 
B) B 
C) neither graph 
D) both graphs

Quizplus · Accepted Answer

An increase in the price of Cheerios itself would not be depicted by either graph A or B, as these graphs typically show shifts in supply or demand, not movements along the curve due to price changes of the product itself.

-Refer to the Above Figure for the Market of Cheerios