Which of the following events must result in a lower price in the market for Snickers?
A)Demand for Snickers increases,and supply of Snickers decreases.
B)Demand for Snickers and supply of Snickers both decrease.
C)Demand for Snickers decreases,and supply of Snickers increases.
D)Demand for Snickers and supply of Snickers both increase

Question

Quizplus · Accepted Answer

If demand for Snickers decreases while supply of Snickers increases, there will be more Snickers available than people willing to buy them. Therefore, sellers will lower the price to encourage people to buy more and clear the surplus. This will result in a lower price in the market for Snickers.

Which of the Following Events Must Result in a Lower