What Would Happen to the Equilibrium Price and Quantity of Lattés

question 148

Multiple Choice

What would happen to the equilibrium price and quantity of lattés if consumers' incomes rise and lattés are a normal good?

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

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Definitions:

SWOT Analysis

A strategic planning tool that identifies Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

Contingency Planning

The process of preparing for unforeseen events or emergencies by developing strategies in advance to handle and mitigate risks.

Market Penetration Strategy

A business approach aimed at increasing market share for an existing product, or promoting a new product, through aggressive marketing and sales tactics.

Question Marks

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