Multiple Choice
What is the effect on the price and quantity of wooden desks of a rise in the price of wood?
A) The equilibrium quantity of wooden desks decreases and the equilibrium price falls.
B) The equilibrium quantity of wooden desks decreases and the equilibrium price rises.
C) The equilibrium quantity of wooden desks increases and the equilibrium price falls.
D) The equilibrium quantity of wooden desks increases and the equilibrium price rises.
Correct Answer:
Verified
Correct Answer:
Verified
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