If incomes increase and the number of producers of batteries decreases, how will the equilibrium price and equilibrium quantity of batteries change? The equilibrium price of a battery will ________ and the equilibrium quantity of batteries ________. A. fall; might increase, decrease, or not change B. fall; will decrease C. rise; might increase, decrease, or not change D. either rise, fall, or not change; will increase
If incomes increase and the number of producers of batteries decreases, how will the equilibrium price and equilibrium quantity of batteries change? The equilibrium price of a battery will ________ and the equilibrium quantity of batteries ________. A. fall; might increase, decrease, or not change B. fall; will decrease C. rise; might increase, decrease, or not change D. either rise, fall, or not change; will increase
Chapter3: Supply And Demand: Theory
Section3.3: The Market: Putting Supply And Demand Together
Problem 3ST
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If incomes increase and the number of producers of batteries decreases, how will the equilibrium price and equilibrium quantity of batteries change?
The equilibrium price of a battery will ________ and the equilibrium quantity of batteries ________.
A.
fall; might increase, decrease, or not change
B.
fall; will decrease
C.
rise; might increase, decrease, or not change
D.
either rise, fall, or not change; will increase
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