Multiple Choice
-Refer to Exhibit 3-2.Suppose equilibrium is at point A.Something then changes and equilibrium becomes point C.Which of the following is consistent with the change in equilibrium from point A to C (assuming that good X is a normal good) ?
A) There was a decrease in the number of buyers and business taxes increased.
B) There was an increase in the number of buyers and business taxes decreased.
C) There was an increase in the number of buyers and business taxes increased.
D) There was a decrease in the number of buyers and business taxes decreased.
Correct Answer:
Verified
Correct Answer:
Verified
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