Multiple Choice
When an increase in the price of wheat,an important ingredient in the production of bread,happens at the same time as an increase in the number of people consuming bread:
A) both the equilibrium price and quantity will increase.
B) equilibrium quantity will decrease,but equilibrium price may decrease,increase,or stay the same.
C) both the equilibrium price and quantity will decrease.
D) equilibrium price will increase,but equilibrium quantity may decrease,increase,or stay the same.
Correct Answer:
Verified
Correct Answer:
Verified
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