If the Market for Chocolate Was at the Equilibrium Point

question 233

Multiple Choice

If the market for chocolate was at the equilibrium point and suddenly half of the chocolate in the world disappeared, what would be the immediate effect?

• A) The price would increase due to a shortage.
• B) The price would decrease due to market equilibrium.
• C) The price would increase due to a surplus.
• D) The price would decrease due to a surplus.
• E) There would be no change in either price or demand.

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