Multiple Choice
If the supply curve for aspirin is perfectly elastic, a reduction in demand will cause the equilibrium price to:
A) rise and the equilibrium quantity to fall.
B) rise and the equilibrium quantity to stay the same.
C) fall and the equilibrium quantity to fall.
D) stay the same and the equilibrium quantity to fall.
E) fall and the equilibrium quantity to stay the same.
Correct Answer:
Verified
Correct Answer:
Verified
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