Suppose that the equilibrium price of french fries rises while the equilibrium quantity falls. The most likely explanation for these changes is Multiple Choice a decrease in demand for french fries a decrease in the supply of french fries. an increase in demand for french fries

Suppose that the equilibrium price of french fries rises while the equilibrium quantity falls. The most likely explanation for these changes is Multiple Choice a decrease in demand for french fries a decrease in the supply of french fries. an increase in demand for french fries

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter6: Consumer Choices

Section: Chapter Questions

Problem 17P: If a 10 decrease in the price of one product that you buy causes an 8 increase in quantity demanded...

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Question

Suppose that the equilibrium price of french fries rises while the equilibrium quantity falls. The most likely explanation for these
changes is
Multiple Choice
a decrease in demand for french fries
a decrease in the supply of french fries.
an increase in demand for french fries

If supply increases, then
Multiple Choice
the quantity demanded will increase.
the quantity demanded will decrease.
price will increase.

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