Suppose that the equilibrium price of french fries rises while the equilibrium quantity falls. The most likely explanation for these changes is Multiple Choice a decrease in demand for french fries a decrease in the supply of french fries. an increase in demand for french fries

Suppose that the equilibrium price of french fries rises while the equilibrium quantity falls. The most likely explanation for these changes is Multiple Choice a decrease in demand for french fries a decrease in the supply of french fries. an increase in demand for french fries

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Suppose that the equilibrium price of french fries rises while the equilibrium quantity falls. The most likely explanation for these
changes is
Multiple Choice
a decrease in demand for french fries
a decrease in the supply of french fries.
an increase in demand for french fries

If supply increases, then
Multiple Choice
the quantity demanded will increase.
the quantity demanded will decrease.
price will increase.

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