New Oak Tables Are Normal Goods

question 119

Multiple Choice

New oak tables are normal goods.What would happen to the equilibrium price and quantity in the market for oak tables if the price of maple tables rises,the price of oak wood rises,more buyers enter the market for oak tables,and the price of the glue used in the production of the new oak tables increased?

• A)Price will fall,and the effect on quantity is ambiguous.
• B)Price will rise,and the effect on quantity is ambiguous.
• C)Quantity will fall,and the effect on price is ambiguous.
• D)Quantity will rise,and the effect on price is ambiguous.

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Showing an unjustifiable favoritism or prejudice towards something or someone.

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Showing an unjustifiably favorable or unfavorable inclination towards something or someone, often without considering the facts objectively.

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A standardized test that assesses intelligence and cognitive abilities, forming a basis for an intelligence quotient (IQ) score.

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