Multiple Choice
Consider the market for iPads.What happens if a fantastic new alternative tablet is developed by Samsung and,at the same time,a boat carrying a large shipment of iPads is attacked by pirates and sunk?
A) Price decreases and quantity increases.
B) Price increases and quantity increases.
C) The change in price is indeterminate and quantity decreases.
D) Price increases and the change in quantity is indeterminate.
Correct Answer:
Verified
Correct Answer:
Verified
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