25. What will happen to the price and quantity of footballs as a result of an increase in the price of leather used to make footballs? (A) Price will increase, and quantity will increase. (B) Price will increase, and quantity will decrease. (C) Price will decrease, and quantity will increase. (D) Price will decrease, and quantity will decrease. (E) Price will not change, and quantity will not change.

25. What will happen to the price and quantity of footballs as a result of an increase in the price of leather used to make footballs? (A) Price will increase, and quantity will increase. (B) Price will increase, and quantity will decrease. (C) Price will decrease, and quantity will increase. (D) Price will decrease, and quantity will decrease. (E) Price will not change, and quantity will not change.

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter11: Resource Market

Section: Chapter Questions

Problem 3.5P

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