The figure given below represents the equilibrium price and output in the market for restaurant meals and delivery meals. Figure 4.1 Refer to Figure 4.1.The demand for Restaurant Meals shift in one direction while the demand for Delivery Meals shift in another direction.Which of the following impacts will it have on the quantity of Restaurant Meals and Delivery meals purchased by consumers?
A)The quantity of Restaurant Meals purchased declines while the quantity of Delivery Meals purchased rises.
B)The quantity of Restaurant Meals purchased rises while the quantity of Delivery Meals purchased declines.
C)Both the quantity of Restaurant Meals purchased and the quantity of Delivery Meals purchased declines.
D)Both the quantity of Restaurant Meals purchased and the quantity of Delivery Meals purchased increases.
E)The quantity of Restaurant Meals purchased and the quantity of Delivery Meals purchased add up to 100.

Question

The figure given below represents the equilibrium price and output in the market for restaurant meals and delivery meals. Figure 4.1  Refer to Figure 4.1.The demand for Restaurant Meals shift in one direction while the demand for Delivery Meals shift in another direction.Which of the following impacts will it have on the quantity of Restaurant Meals and Delivery meals purchased by consumers?
A)The quantity of Restaurant Meals purchased declines while the quantity of Delivery Meals purchased rises. 
B)The quantity of Restaurant Meals purchased rises while the quantity of Delivery Meals purchased declines. 
C)Both the quantity of Restaurant Meals purchased and the quantity of Delivery Meals purchased declines. 
D)Both the quantity of Restaurant Meals purchased and the quantity of Delivery Meals purchased increases. 
E)The quantity of Restaurant Meals purchased and the quantity of Delivery Meals purchased add up to 100.

Quizplus · Accepted Answer

If the demand for Restaurant Meals shifts to the left (decreases), then the equilibrium price and quantity would decrease for Restaurant Meals. Similarly, if the demand for Delivery Meals shifts to the right (increases), then the equilibrium price and quantity would increase for Delivery Meals. Therefore, consumers would be purchasing fewer Restaurant Meals and more Delivery Meals.

The Figure Given Below Represents the Equilibrium Price and Output