A Decrease in the Demand for Eggs Due to Changes

question 139

Multiple Choice

A decrease in the demand for eggs due to changes in consumer tastes,accompanied by a decrease in the supply of eggs as a result of an outbreak of Avian flu,will result in

• A) a decrease in the equilibrium quantity of eggs and no change in the equilibrium price.
• B) a decrease in the equilibrium price of eggs and no change in the equilibrium quantity.
• C) a decrease in the equilibrium price of egg; the equilibrium quantity may increase or decrease.
• D) a decrease in the equilibrium quantity of eggs; the equilibrium price may increase or decrease.

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Definitions:

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