Related to the Economics in Practice on p.72: Assuming the demand for Baltimore newspapers ________ while the supply of Baltimore newspapers ________,the equilibrium price will definitely increase.

Question

Quizplus · Accepted Answer

If the demand for Baltimore newspapers increases and the supply of Baltimore newspapers decreases, there will be more buyers than sellers in the market, resulting in a shortage of newspapers. As a result, the price will increase until the quantity demanded equals the quantity supplied, which will occur at a higher equilibrium price.

Related to the Economics in Practice on P