What Would Happen to the Equilibrium Price and Quantity of Lattés

question 194

Multiple Choice

What would happen to the equilibrium price and quantity of lattés if coffee shops began using a machine that reduced the amount of labor necessary to produce them?

• 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:

Adenine

A purine nucleobase used in the formation of DNA and RNA, involved in coding genetic information and energy transfer.

Thymine

One of the four nucleobases in the DNA of cells, which pairs with adenine.

Adenine Bases

One of the four nucleotide bases found in DNA and RNA, which pairs with thymine in DNA and with uracil in RNA.

Guanine

One of the four main nucleobases found in the nucleic acids DNA and RNA, characterized by its pairing with cytosine.