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-Using the Above Figure, Suppose There Is a Decrease in the Number

Question 407

Multiple Choice

-Using the above figure, suppose there is a decrease in the number of suppliers. Then A) the equilibrium price will decrease below $25 per dozen roses. B) we cannot predict what will happen to equilibrium quantity. C) the equilibrium quantity will decrease below 10 dozen roses. D) both the equilibrium price and quantity will increase.
-Using the above figure, suppose there is a decrease in the number of suppliers. Then


A) the equilibrium price will decrease below $25 per dozen roses.
B) we cannot predict what will happen to equilibrium quantity.
C) the equilibrium quantity will decrease below 10 dozen roses.
D) both the equilibrium price and quantity will increase.

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