Medical authorities announced in the late 1980s that an acne medicine named Retin-A also had previously unknown wrinkle-reducing properties. An economist would expect to find that, after this announcement, the price of Retin-A ____ and the quantity sold ____.

Question

Quizplus · Accepted Answer

Since the announcement increased the demand for Retin-A (now also used for wrinkle-reducing), it is expected that the price and quantity sold would both increase, indicating a shift in the demand curve to the right. Hence, the best choice is B - rose; rose.

Medical Authorities Announced in the Late 1980s That an Acne