New Oak Tables Are Normal Goods

question 119

Multiple Choice

New oak tables are normal goods.What would happen to the equilibrium price and quantity in the market for oak tables if the price of maple tables rises,the price of oak wood rises,more buyers enter the market for oak tables,and the price of the glue used in the production of the new oak tables increased?

• A)Price will fall,and the effect on quantity is ambiguous.
• B)Price will rise,and the effect on quantity is ambiguous.
• C)Quantity will fall,and the effect on price is ambiguous.
• D)Quantity will rise,and the effect on price is ambiguous.

---

Definitions:

Hegemony

Hegemony describes the dominance of one group over another, often in a cultural, political, or economic context, whereby the dominant group's views are perceived as the normative standard.

Social Class

A division of a society based on social and economic status, impacting individuals' access to resources and opportunities.

Hollywood Action Movies

Hollywood Action Movies are a genre of films produced in the Hollywood entertainment industry, known for their fast-paced plots, spectacular visuals, and high-stakes conflicts.

Ideology Of Polarity

A belief system that emphasizes the division and opposition between two major groups or ideas.