Figure: Supply and Demand 2 
What happens as a result of the change in demand in the diagram?
A) a decrease in both the equilibrium price and the equilibrium quantity
B) an increase in both the equilibrium price and the equilibrium quantity
C) an increase in the equilibrium price and a decrease in the equilibrium quantity
D) a decrease in the equilibrium price and an increase in the equilibrium quantity
Correct Answer:
Verified
Q147: Figure: Demand Shift Q148: When the price of a good decreases: Q149: When supply decreases there is a _ Q150: If market demand decreases: Q151: Higher gasoline prices have led to a Q153: After a hurricane in Florida destroys half Q154: If market supply increases: Q155: When demand increases there is a _ Q156: Following the release of a new study Q157: If supply decreases, ceteris paribus, the quantity
A)
A) equilibrium price and
A) equilibrium price and
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