A decrease in the price of corn syrup (an ingredient for soft drinks) and an increased concern about tooth decay caused by the consumption of soft drinks will result in which of the following in the soft drink market? O Equilibrium quantity will decrease, but equilibrium price may decrease, increase, or stay the same. O There will be an increase in both the equilibrium price and quantity. O Equilibrium price will decrease, but equilibrium quantity may decrease, increase, or stay the same. None of these options is correct. OThere will be a decrease in both equilibrium price and quantity.
A decrease in the price of corn syrup (an ingredient for soft drinks) and an increased concern about tooth decay caused by the consumption of soft drinks will result in which of the following in the soft drink market? O Equilibrium quantity will decrease, but equilibrium price may decrease, increase, or stay the same. O There will be an increase in both the equilibrium price and quantity. O Equilibrium price will decrease, but equilibrium quantity may decrease, increase, or stay the same. None of these options is correct. OThere will be a decrease in both equilibrium price and quantity.
Chapter4: Supply And Demand: An Initial Look
Section: Chapter Questions
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