Below Is the Hypothetical Demand for Water in a Particular

question 84

Multiple Choice

Below is the hypothetical demand for water in a particular country (price per 50 liters) :

-Refer to the above information to answer this question.Suppose that the present supply of 200 is cut by 80.What effect will this have on the price?

• A)The price will fall by $1.
• B)The price will fall by $2.
• C)The price will increase by $1.
• D)The price will increase by $2.
• E)Cannot be determined.

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