If buyers and sellers of drywall (gypsum plasterboard) both expect the price of drywall to increase in the future, then: a. the equilibrium price of drywall may or may not change, but the equilibrium quantity of drywall will fall. b. the equilibrium price of drywall will rise, but the equilibrium quantity of drywall may or may not change. c. the equilibrium price of drywall may or may not change, but the equilibrium quantity of drywall will rise. d. the equilibrium price of drywall will fall, but the equilibrium quantity of drywall may or may not change.

Principles of Microeconomics (MindTap Course List)
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Author:N. Gregory Mankiw
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Chapter4: The Market Forces Of Supply And Demand
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If buyers and sellers of drywall (gypsum plasterboard) both expect the price of drywall to increase in the future, then:
a. the equilibrium price of drywall may or may not change, but the equilibrium quantity of drywall will fall.
b. the equilibrium price of drywall will rise, but the equilibrium quantity of drywall may or may not change.
c. the equilibrium price of drywall may or may not change, but the equilibrium quantity of drywall will rise.
d. the equilibrium price of drywall will fall, but the equilibrium quantity of drywall may or may not change.
Transcribed Image Text:If buyers and sellers of drywall (gypsum plasterboard) both expect the price of drywall to increase in the future, then: a. the equilibrium price of drywall may or may not change, but the equilibrium quantity of drywall will fall. b. the equilibrium price of drywall will rise, but the equilibrium quantity of drywall may or may not change. c. the equilibrium price of drywall may or may not change, but the equilibrium quantity of drywall will rise. d. the equilibrium price of drywall will fall, but the equilibrium quantity of drywall may or may not change.
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