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:

Proactive Interference

A phenomenon where old memories interfere with the recall of new information.

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A type of long-term memory that involves recollection of specific events, situations, and experiences from one's personal past.