Multiple Choice
-Refer to the graph above to answer this question.What would be the new equilibrium price and quantity if supply decreased by 120?
A) Supply would be zero.
B) $1,400 and 80.
C) $1,000 and 40.
D) $800 and 80.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q39: What is the term for the total
Q40: What is an inferior product?<br>A)It is a
Q41: What is the name of those products
Q42: All else held constant,a decrease in demand
Q43: How will the demand and supply of
Q45: Surpluses drive prices up;shortages drive prices down.
Q46: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5692/.jpg" alt=" -Refer to the
Q47: The product is a normal product.<br> <img
Q48: The following table shows the initial weekly
Q49: In Agfa,at a market price of $3