What Is the Effect on the Price and Quantity of Wooden

question 157

Multiple Choice

What is the effect on the price and quantity of wooden desks of a rise in the price of wood?

• A) The equilibrium quantity of wooden desks increases and the equilibrium price rises.
• B) The equilibrium quantity of wooden desks decreases and the equilibrium price falls.
• C) The equilibrium quantity of wooden desks increases and the equilibrium price falls.
• D) The equilibrium quantity of wooden desks decreases and the equilibrium price rises.

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