Multiple Choice
The following table shows the quantity demanded and quantity supplied of grapefruits (in millions of kilos) :
-Refer to the table above to answer this question.If buyers think that the price of grapefruits is going to rise,causing the demand to change by 6 million kilos,what will be the new equilibrium price and quantity?
A) $2.50 and 28 million kilos
B) $2.75 and 26 million kilos
C) $2.50 and 26 million kilos
D) $3.00 and 36 million kilos
Correct Answer:
Verified
Correct Answer:
Verified
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