Multiple Choice
Ceteris paribus, if consumer tastes change so that more people are eating broccoli, then what will happen to the market equilibrium for cabbage, a substitute good for broccoli?
A) Price will increase, and quantity will increase.
B) Price and quantity will stay the same.
C) Price will decrease, and quantity will increase.
D) Price will increase, and quantity will decrease.
E) Price will decrease, and quantity will decrease.
Correct Answer:
Verified
Correct Answer:
Verified
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