Suppose the Demand for Furniture Remains Constant

question 15

Multiple Choice

Suppose the demand for furniture remains constant. If there is a decrease in the cost of wood used to make furniture, _____.

• A) the equilibrium price of furniture will increase while the equilibrium quantity will decrease
• B) the equilibrium price of furniture will fall while the equilibrium quantity will increase
• C) the equilibrium price and quantity of furniture will fall
• D) the equilibrium price and quantity of furniture will increase

---

Definitions:

Vietnamese

Relating to Vietnam or its people, culture, or language.

Koreans

Refers to individuals originating from Korea, a country in East Asia, or those of Korean descent.

Suburbs

Outlying residential districts of a city, often characterized by lower population density than the urban core and a greater proportion of single-family homes.

Racial/Ethnic Group

A community of individuals who share common cultural, linguistic, or ancestral heritage.