Table 4-3

-Refer to Table 4-3. What is the space that would represent a decrease in equilibrium price and an indeterminate change in equilibrium quantity?

Question

Table 4-3
 
-Refer to Table 4-3. What is the space that would represent a decrease in equilibrium price and an indeterminate change in equilibrium quantity?

Quizplus · Accepted Answer

Space C represents a decrease in equilibrium price (from $12 to $10) and an indeterminate change in equilibrium quantity. This is because the shift in demand and supply curves will lead to a decrease in price, but the effect on the quantity traded is uncertain.

Table 4-3 -Refer to Table 4-3. What Is the Space That Would