Multiple Choice
An increase in the price of sugar (an ingredient for soft drinks) and an increased concern about tooth decay caused by the consumption of soft drinks will result in which of the following in the soft drink market?
A) There will be an increase in both the equilibrium price and quantity.
B) Equilibrium quantity will decrease, but equilibrium price may decrease, increase, or stay the same.
C) There will be a decrease in both equilibrium price and quantity.
D) Equilibrium quantity will increase, but equilibrium price may decrease, increase, or stay the same.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: If the quantity of housing supplied in
Q7: Researchers find a new strain of genetically
Q8: Apple and Samsung are large corporations that
Q10: Why are economists so particular about the
Q12: A decrease in supply with no change
Q14: Use the following to answer questions :
Q15: A small private college increases tuition while
Q16: A decrease in the price of a
Q166: _ illustrates an inverse relationship between price
Q215: The market for lemonade is in equilibrium