A Decrease in the Demand for Incandescent Light Bulbs Due

question 167

Multiple Choice

A decrease in the demand for incandescent light bulbs due to changes in consumer tastes, accompanied by a decrease in the supply of incandescent light bulbs as a result of government restrictions, will result in

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

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