Multiple Choice
If the demand for jelly decreases, and the price of grapes (used to make jelly) rises
A) the equilibrium price of jelly rises and the equilibrium quantity of jelly might rise or fall.
B) the equilibrium price of jelly falls and the equilibrium quantity of jelly might rise or fall.
C) the equilibrium price of jelly might rise or fall, and the equilibrium quantity of jelly falls.
D) the equilibrium price of jelly might rise or fall, and the equilibrium quantity of jelly rises.
Correct Answer:
Verified
Correct Answer:
Verified
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