Suppose the Incomes of Buyers in a Market for a Particular

question 89

Multiple Choice

Suppose the incomes of buyers in a market for a particular normal good decrease and there is also a reduction in input prices.What would we expect to occur in this market?

• A)Equilibrium price would decrease,but the impact on equilibrium quantity would be ambiguous.
• B)Equilibrium price would increase,but the impact on equilibrium quantity would be ambiguous.
• C)Equilibrium quantity would decrease,but the impact on equilibrium price would be ambiguous.
• D)Equilibrium quantity would increase,but the impact on equilibrium price would be ambiguous.

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Definitions:

Grade 14

Could refer to a specific level or quality classification in a grading system, but needs additional context to define precisely in a specific field.

Pressing or Rolling Operation

A manufacturing process where metal is shaped by pressing or rolling, often used for forming sheets, plates, or profiles.

Fit Symbol

Symbols used in engineering to specify the type of fit between two mating parts; typically defines tolerance and type such as clearance or interference.

Thread Representation

A method in technical drawings to indicate the detailed characteristics of thread on a part, including major diameter, pitch, and thread form.