Suppose that people decide riding scooters is no longer fun.The equilibrium price of a scooter ________,and the equilibrium quantity of scooters ________.
A) rises; increases
B) rises; decreases
C) falls; increases
D) falls; decreases
E) does not change; decreases

Question

Quizplus · Accepted Answer

If people decide riding scooters is no longer fun, the demand for scooters will decrease, causing a leftward shift of the demand curve. This will result in a lower equilibrium price and quantity, as the market adjusts to the decrease in demand. Therefore, the equilibrium price of a scooter falls, and the equilibrium quantity of scooters decreases.

Suppose That People Decide Riding Scooters Is No Longer Fun