If supply is unchanged, a decrease in the demand for coffee will cause the equilibrium price to: Answers: A. Fall and equilibrium quantity to fall. B. Rise and equilibrium quantity to rise. C. Rise and equilibrium quantity to fall. D. Fall and equilibrium quantity to rise.
If supply is unchanged, a decrease in the demand for coffee will cause the equilibrium price to: Answers: A. Fall and equilibrium quantity to fall. B. Rise and equilibrium quantity to rise. C. Rise and equilibrium quantity to fall. D. Fall and equilibrium quantity to rise.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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If supply is unchanged, a decrease in the |
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When supply is unchanged and demand for coffee decreases,equilibrium price decreases and equilibrium quantity also decreases.
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