Multiple Choice
Suppose you are told that the equilibrium price of bananas has increased, while the equilibrium quantity of bananas has fallen. You are also told that either the demand changed or supply changed, but not both. Which of the following must have occurred?
A) Demand increased.
B) Demand decreased.
C) Supply increased.
D) Supply decreased.
Correct Answer:
Verified
Correct Answer:
Verified
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