Ball-point pensP.A wave of nostalgia for fountain pens washes over consumers. Supplierssee the price of fountain pens rising as tastes change toward thatproduct. From the point of view of pen manufacturers, who can make eitherwhat is a likely result in the market for ball-point pens above?type ofpen,Select one:a. Price rises and quantity falls as S shifts to the left.b. Price and quantity both rise as D shifts to the left.c. Price and quantity both fall as D shifts to the right.O d. Price falls and quantity rises as S shifts to the right.Next pageJump to...HW Unit 5 DUE March 10 ►

Demand is the willingness and ability of consumers for consuming and buying goods and services at…

Ball-point pens D A wave of nostalgia for fountain pens washes over consumers. Suppliers see the price of fountain pens rising as tastes change toward that product. From the point of view of pen manufacturers, who can make either type of pen, what is a likely result in the market for ball-point pens above? Select one: a. Price rises and quantity falls as S shifts to the left. b. Price and quantity both rise as D shifts to the left. O c. Price and quantity both fall as D shifts to the right. O d. Price falls and quantity rises as S shifts to the right.

Ball-point pens D A wave of nostalgia for fountain pens washes over consumers. Suppliers see the price of fountain pens rising as tastes change toward that product. From the point of view of pen manufacturers, who can make either type of pen, what is a likely result in the market for ball-point pens above? Select one: a. Price rises and quantity falls as S shifts to the left. b. Price and quantity both rise as D shifts to the left. O c. Price and quantity both fall as D shifts to the right. O d. Price falls and quantity rises as S shifts to the right.

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter4: Supply And Demand: An Initial Look

Section: Chapter Questions

Problem 3TY

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