Multiple Choice
What would happen to the equilibrium price and quantity of golf club memberships if the price of landscaping and grass maintenance fell, the price of golf clubs fell, more golf courses decided to offer memberships, and health officials announced that playing golf was bad for you?
A) price will fall and the effect on quantity is ambiguous
B) quantity will fall and the effect on price is ambiguous
C) quantity will rise and the effect on price is ambiguous
D) effect on both price and quantity is ambiguous
Correct Answer:
Verified
Correct Answer:
Verified
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