Assume the Cost of Certain Inputs Used to Produce Artificial

question 23

Multiple Choice

Assume the cost of certain inputs used to produce artificial Christmas trees increases and,at the same time,the economy moves into a recession,causing the incomes of consumers to decrease.Which of the following will happen to the equilibrium price and quantity of artificial Christmas trees? (Assume artificial Christmas trees are normal goods.)

• A)Price will increase; quantity cannot be determined.
• B)Price will decrease; quantity cannot be determined.
• C)Quantity will increase; price cannot be determined.
• D)Quantity will decrease; price cannot be determined.

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Recreation Centre

A facility provided for leisure activities, including sports, fitness, and other recreational activities.

Physical Activities

Bodily movements produced by skeletal muscles that require energy expenditure, including activities undertaken while working, playing, carrying out household chores, traveling, and engaging in recreational pursuits.

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