-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.

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