If the Demand for Hamburgers Decreases, the Equilibrium Price

question 509

Multiple Choice

If the demand for hamburgers decreases, the equilibrium price

• A) rises and the equilibrium quantity increases.
• B) falls and the equilibrium quantity increases.
• C) rises and the equilibrium quantity decreases.
• D) falls and the equilibrium quantity decreases.

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Definitions:

Stranded

Left isolated or in a difficult situation without the means to move or act.

Utilities

Essential services provided to the public, including electricity, gas, water, and telecommunications.

Retailing

The selling of goods and services to consumers for personal or household use.

Convenience

The ease and efficiency with which a product or service can be acquired or used by the consumer.