Ceteris paribus, the fear among travelers created by the 9-11 attacks would have what impact on the market for air travel?
A) an increase in equilibrium price and an increase in equilibrium quantity.
B) an increase in equilibrium price and a decrease in equilibrium quantity.
C) a decrease in equilibrium price and an increase in equilibrium quantity.
D) a decrease in equilibrium price and a decrease in equilibrium quantity.
E) not change in equilibrium price and a decrease in equilibrium quantity.
Correct Answer:
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