The market for footballs is perfectly competitive.If all else is held constant and the price of leather decreases,we would expect that the equilibrium quantity of footballs would:
A) fall and the equilibrium price would rise.
B) rise and the equilibrium price would fall.
C) fall and the equilibrium price would fall.
D) rise and the equilibrium price would rise.
E) fall and the equilibrium price would remain constant.
Correct Answer:
Verified
Q83: Oil is a main component in the
Q84: During the winter months,many elderly persons leave
Q87: When both supply and demand shift to
Q88: According to the supply and demand model,when
Q92: When firms in a market expect the
Q111: What would happen to the equilibrium price
Q117: Taxes cause the equilibrium price of a
Q121: A "twofold" change is when
A) income goes
Q124: If the price and quantity for an
Q132: Spam is considered an inferior good.What would
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents