How Does an Unusually Warm Winter Affect the Equilibrium Price

question 295

Multiple Choice

How does an unusually warm winter affect the equilibrium price and quantity of gloves?

• A) It raises both the price and the quantity.
• B) It raises the price and decreases the quantity.
• C) It lowers the price and increases the quantity.
• D) It lowers both the price and the quantity.

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