Multiple Choice
A decrease in the demand for bananas with no concurrent change in the supply of bananas will result in a ________ equilibrium price and a(n) ________ equilibrium quantity.
A) higher; lower
B) lower; lower
C) higher; unchanged
D) higher; higher
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q28: Suppose that the equilibrium price of rice
Q29: Which of the following is NOT a
Q30: When the price of a good is
Q31: If the demand for computers shifts to
Q32: Almost every holiday season at least one
Q34: Which of the following would cause an
Q35: As coffee becomes more expensive, Joe starts
Q36: Which of the following is NOT a
Q37: Assume that Joe is willing to produce
Q38: A regulated maximum price that is above