24. Suppose that more security guards become aware that wearing Kevlar (bulletproof) vests can protect them from injury and decide to start wearing Kevlar. At the same time, the price of materials used to produce the vests falls. The equilibrium price of Kevlar vests produced a. increases; increases b. decreases; decreases c. probably changes, but in an ambiguous direction; probably changes, but in an ambiguous direction d. probably changes, but in an ambiguous direction; increases , and the equilibrium quantity

24. Suppose that more security guards become aware that wearing Kevlar (bulletproof) vests can protect them from injury and decide to start wearing Kevlar. At the same time, the price of materials used to produce the vests falls. The equilibrium price of Kevlar vests produced a. increases; increases b. decreases; decreases c. probably changes, but in an ambiguous direction; probably changes, but in an ambiguous direction d. probably changes, but in an ambiguous direction; increases , and the equilibrium quantity

Principles of Microeconomics (MindTap Course List)

8th Edition

ISBN:9781305971493

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter4: The Market Forces Of Supply And Demand

Section: Chapter Questions

Problem 6CQQ

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