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-Using the Above Figure, Suppose There Is a Decrease in the Number

Question 296

Multiple Choice

-Using the above figure, suppose there is a decrease in the number of suppliers. Then A) the equilibrium price will decrease below $25 per dozen roses. B) we cannot predict what will happen to equilibrium quantity. C) both the equilibrium price and quantity will increase. D) the equilibrium quantity will decrease below 10 dozen roses.
-Using the above figure, suppose there is a decrease in the number of suppliers. Then


A) the equilibrium price will decrease below $25 per dozen roses.
B) we cannot predict what will happen to equilibrium quantity.
C) both the equilibrium price and quantity will increase.
D) the equilibrium quantity will decrease below 10 dozen roses.

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