One HEADLINE article in the text,"Hurricane Sandy to Raise Prices on Used Cars" describes the impact of thousands of cars being destroyed by the storm.What will happen to the equilibrium quantity of used cars if the supply decreases?

Question

Quizplus · Accepted Answer

With the decrease in supply of used cars after Hurricane Sandy, the equilibrium quantity of used cars will also decrease as the market reaches a new equilibrium point with a higher price for the remaining used cars.

One HEADLINE Article in the Text,"Hurricane Sandy to Raise Prices