Suppose There Is a Tornado That Levels a City

question 128

Multiple Choice

Suppose there is a tornado that levels a city.As rebuilding begins,how might you analyze this effect in the market for lumber?

• A) The demand for lumber would increase, increasing both the equilibrium price and quantity.
• B) The supply of lumber would increase, decreasing the equilibrium price and increasing the equilibrium quantity.
• C) The demand for lumber would increase, decreasing the equilibrium price and increasing the equilibrium quantity.
• D) The supply of lumber would decrease, increasing the equilibrium price and decreasing the equilibrium quantity.

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