Multiple Choice
Using the above figure, suppose that roses are a normal good. If incomes decrease while simultaneously there is an increase in the price of the resources used to produce roses, then
A) the quantity will definitely decrease below 10 dozen roses.
B) we cannot tell what will happen to equilibrium quantity.
C) the price will definitely increase above $25 per dozen roses.
D) the price will definitely decrease below $25 per dozen roses.
Correct Answer:
Verified
Correct Answer:
Verified
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