If a Press Release Reports That the Future Price of New

question 196

Multiple Choice

If a press release reports that the future price of new homes is expected to decrease and demanders respond more to the change in the expected future price than suppliers, which of the following is true?

• A)Both the equilibrium quantity and price will decrease.
• B)Both the equilibrium quantity and price will increase.
• C)The equilibrium price will decrease and the equilibrium quantity will increase.
• D)The equilibrium price will increase and the equilibrium quantity will decrease.

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Definitions:

Sensory Appeal

The attractiveness of something that affects one or more of the five senses, making it appealing or desirable.

Food Behavior

The habits and practices associated with food consumption.

Taste Preferences

Individual differences in the liking or disliking of specific flavors and foods, often influenced by genetic, cultural, and environmental factors.

Psychological

Pertaining to the mind or mental processes and how they affect behavior and well-being.