Multiple Choice
The price of oranges rises.What happens in the market for apples, which are a substitute for oranges?
A) The equilibrium price falls, and the equilibrium quantity rises.
B) The equilibrium price rises, and the equilibrium quantity falls.
C) The equilibrium price and quantity rise.
D) The equilibrium price and quantity fall.
Correct Answer:
Verified
Correct Answer:
Verified
Q91: Use the following to answer question(s): Simultaneous
Q92: Use the following to answer question(s): The
Q93: A market shortage occurs if the:<br>A) price
Q94: Use the following to answer question(s): Shifts
Q95: Given the events listed below that take
Q97: A market surplus occurs if the quantity:<br>A)
Q98: A decrease in price will lead to
Q99: Use the following to answer question(s): The
Q100: An increase in consumer income will lead
Q101: Use the following to answer question(s): Demand