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The Following Figure Shows the Market for Grapefruit (In Kilos)

Question 100

Multiple Choice

The following figure shows the market for grapefruit (in kilos) :
The following figure shows the market for grapefruit (in kilos) : -Refer to the diagram above to answer this question.If the price of oranges (a substitute) were to decrease,causing the demand for grapefruit to change by 12 kilos,what will be the new equilibrium price and quantity? A) $2.25 and 24 kilos B) $2.25 and 48 kilos C) $2.75 and 44 kilos D) $3.25 and 40 kilos
-Refer to the diagram above to answer this question.If the price of oranges (a substitute) were to decrease,causing the demand for grapefruit to change by 12 kilos,what will be the new equilibrium price and quantity?


A) $2.25 and 24 kilos
B) $2.25 and 48 kilos
C) $2.75 and 44 kilos
D) $3.25 and 40 kilos

Correct Answer:

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