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If the Number of Demanders for Granite Counter Tops Decreases

question 106

True/False

If the number of demanders for granite counter tops decreases at the same time as the number of suppliers of granite counter tops decreases and the shift in supply is greater than the shift in demand, both the equilibrium price and quantity of granite counter tops will fall.


Definitions:

Earnings

The amount of money that a company makes from its activities, often reported as profit on a financial statement.

Restaurant

A business establishment where meals or refreshments may be purchased and consumed by patrons.

Weekdays

The days of the week excluding the weekend; typically refers to Monday through Friday.

Saturday

The seventh and final day of the week in many religious and calendar systems, considered as a day of rest and worship in some cultures.

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