Consider the market for new textbooks, a normal good.  Assume that the cost of shipping textbooks from the warehouse to the buyer rises. What will happen to the equilibrium price and quantity?     the equilibrium price and quantity both decrease.     the equilibrium price and quantity both increase.     the equilibrium price decreases and the equilibrium quantity increases.     the equilibrium price increases and the equilibrium quantity decrease

Economics For Today
10th Edition
ISBN:9781337613040
Author:Tucker
Publisher:Tucker
Chapter4: Markets In Action
Section: Chapter Questions
Problem 6SQ
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Consider the market for new textbooks, a normal good.  Assume that the cost of shipping textbooks from the warehouse to the buyer rises. What will happen to the equilibrium price and quantity?

   

the equilibrium price and quantity both decrease.

   

the equilibrium price and quantity both increase.

   

the equilibrium price decreases and the equilibrium quantity increases.

   

the equilibrium price increases and the equilibrium quantity decreases.

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